Glacier FarmMedia MarketsFarm – The following is a glance at the news moving markets in Canada and globally.
– Statistics Canada reported on Tuesday that Canada’s annual inflation rate dropped to two per cent in August, which is also the Bank of Canada’s (BoC) target rate and the lowest since February 2021. Mortgage interest and rental costs were the largest contributing factors to the August consumer price index, even though the former is slowing down. Groceries cost 2.4 per cent more in August, while the price of clothing and footwear declined. The BoC will hold its next interest rate meeting on Oct. 23.
Read Also
Global Markets: Retail sales down in May
Glacier FarmMedia | MarketsFarm – The following is a glance at the news moving markets in Canada and globally. –…
– Meta, the parent company of Facebook and Instagram, announced on Monday it will ban RT and other Russian state media outlets, alleging they were active in foreign interference and propaganda operations. Facebook and Instagram have been blocked in Russia since 2022 after the government named Meta an “extremist organization”. However, WhatsApp, also run by Meta, continues to operate in Russia.
– Floods in central Europe have claimed the lives of at least 16 people since last weekend, with seven confirmed casualties in Romania and other deaths reported in Austria, the Czech Republic and Poland. Flooding was also seen in the Slovakian capital of Bratislava and some roads leading into Budapest will close as waters from the Danube River overflow its banks. Polish Prime Minister Donald Tusk said his government will allocate one billion zloty (C$321.37 million) for flood victims and will also apply for European Union disaster relief.
