By Glen Hallick
Glacier Farm Media MarketsFarm – The following is a glance at the news moving markets in Canada and globally.
- Ahead of the Bank of Canada’s next interest rate announcement, analysts on Monday predicted the central bank could slash its rates by upwards to a half of a percentage point. Forecasters pointed to Canada’s 1.6 per cent rate of inflation, which is below the BoC’s target of two per cent. The BoC is scheduled to make its announcement on Wednesday at 8:45 am CDT. It’s current interest rate is 4.25 per cent.
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Glacier FarmMedia | MarketsFarm – The following is a glance at the news moving markets in Canada and globally. –…
- The outcome of the provincial election in British Columbia remained uncertain on Monday with the governing New Democratic Party with 46 seats, the opposition Conservatives with 45 and the Green Party with two. Meanwhile, voters in New Brunswick head to the polls today, with the incumbent Conservatives seeking a third term.
- A tentative deal in the strike at Boeing was reached on Saturday. Five weeks ago approximately 33,000 members of the International Association of Machinists took the picket lines. They will vote on Wednesday on the agreement that would provide a 35 per cent wage hike, larger company contributions to the workers’ 401(k) plans, but would not restore the pension plan.
- Over the weekend, Elon Musk started giving away US$1 million per day to a registered voter in a swing state in the United States presidential election. The billionaire said he will keep doing this until voting day on Nov. 5. Musk said to be eligible a voter must sign a pro-U.S. Constitution petition being operated by his campaign group America PAC. One undisclosed voter received a cheque on Saturday and another on Sunday.
