Compiled by Glen Hallick, MarketsFarm
WINNIPEG, Dec. 15 (MarketsFarm) – The following is a glance at the news moving markets in Canada and globally.
– Statistics Canada reported on Wednesday that inflation in November bumped up 0.2 per cent, holding at 4.7 per cent, the highest since 2003. Reports said extensive delays in the global supply chain are the root cause of price increases, and marked the eighth consecutive month that inflation exceeded the Bank of Canada’s control range of one to three per cent.
– The Omicron variant of COVID-19 is spreading at an alarming rate said the World Health Organization (WHO) on Wednesday. “Even if Omicron does cause less severe disease, the sheer number of cases could once again overwhelm unprepared health systems.” stated WHP chief Dr. Tedros Adhanom Ghebreyesus during a press conference. Reports said Omicron has now been discovered in 77 countries after first being detected in South Africa last month.
Read Also
Global Markets: Chevron secures major win
By Glen Hallick Glacier Farm Media | MarketsFarm – The following is a glance at the news moving markets…
– Despite having a parliamentary majority, United Kingdom Prime Minister Boris Johnson required the support of the Official Opposition on Wednesday, as Labour MP’s voted to pass Johnson’s latest measures to stem the spread of the Omicron variant. The bill to require vaccine certificates was approved 369 votes to 126, which the latter included 99 Conservative MP’s, while another 35 Tories abstained from voting. Reports said there are rumblings on the government benches of a possible leadership challenge, should the often controversial Johnson not change his approach.
– The Canadian Real Estate Association (CREA) reported on Wednesday that the average house price in Canada hit a record C$720,850 in November. Despite that, house sales increased 0.6 per cent with 630,634 homes sold so far this year, already far ahead of the record 552,423 sold last year.
