The following is a glance at the news moving markets in Canada and globally.
– Statistics Canada reported on Monday that the country’s annual inflation rate declined to 1.8 per cent in February, down a half point from January and slightly under economists’ expectations. Affecting inflation was the federal government’s tax holiday on certain goods that ended February 2025. However, the conflict in the Middle East and the resulting rise in fuel prices were not factored into the calculations. The Bank of Canada will make its key interest rate decision on Wednesday.
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Glacier FarmMedia — The following is a glance at the news moving markets in Canada and globally. Canada’s unemployment rate…
– United States President Donald Trump urged other nations on Saturday to help the U.S. secure and open up the Strait of Hormuz. On a social media post, Trump named China, France, Japan, South Korea and the United Kingdom as countries that could deploy ships to defend vessels from Iranian attacks. He also said that countries that receive oil through the waterway “must take care of that passage”. So far, no country has committed to sending military help to the strait. On Monday, the Israeli military said it has begun limited ground operations in Lebanon in search of Hezbollah positions.
– Canadian Prime Minister Mark Carney met with five of his Nordic counterparts on Sunday in Oslo for a mini-summit to discuss strengthening defense capabilities in the face of Russia as well as Trump’s threats to annex Greenland. Carney arrived in Norway on Friday to see a major NATO military exercise in the northern part of the country. On Monday, Carney went to the U.K. to visit British Prime Minister Keir Starmer, where they discussed the ongoing Middle East conflict. A statement from Carney’s office released after the meeting said both countries condemned Iran’s missile and drone attacks.
