By Phil Franz-Warkentin
Glacier FarmMedia MarketsFarm – The following is a glance at the news moving markets in Canada and globally.
- Canadian Finance Minister Chrystia Freeland will release the government’s latest budget later today, with early details pointing to increased spending on housing. Increased spending on defence, mental health and artificial intelligence are also expected following recent announcements.
- Canada’s annual inflation rate rose to 2.9 per cent in March from 2.8 per cent the previous month, according to a report from Statistics Canada. Gasoline prices were up by 4.5 per cent in March, contributing the most to the rise in overall inflation.
- Tensions continue between Israel and Iran, with Israel’s war cabinet set to meet Tuesday to discuss its response to Iran’s direct attack over the weekend. Iran’s launch of drones and missiles into Israeli territory was itself a response to Israel’s airstrike on Iran’s embassy compound in Syria. World leaders have called on restraint, urging Israel not to retaliate.
