WINNIPEG – The following is a glance at the news moving markets in Canada and globally.
– The Bank of Canada (BoC) decided to raise its key interest rate by 25 basis points to 4.75 per cent on Wednesday. While the central bank said earlier this year it planned on leaving its key interest rate unchanged, recent inflation numbers from Statistics Canada led the BoC to change its plans. The interest rate is Canada’s highest since 2001.
– Smoke from wildfires raging across Canada drifted to the eastern United States on Thursday with the air around New York City giving off a toxic amber hue. Swiss air quality website IQAir, which uses an air quality risk index, rated parts of NYC at more than 400 on Wednesday, where 300 is considered hazardous. Approximately 128 million people in the eastern U.S. were under air quality alerts because of the wildfire smoke and ozone.
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By Glen Hallick Glacier Farm Media | MarketsFarm – The following is a glance at the news moving markets…
– Canadian Prime Minister Justin Trudeau said his government will not relent to Meta, the parent company of Facebook and Instagram, as well as Google as the companies threaten to end access to news content for Canadians on its platforms. The social media giants are making the threats as Parliament considers Bill C-18, which would require them to pay news publishers for linking to or repurposing their content. The bill has already passed in the House of Commons and could be approved in the Senate later this month.
