By MarketsFarm
WINNIPEG, Dec. 21 (MarketsFarm) – The following is a glance at the news moving markets in Canada and globally.
– After hitting a record low relative to the United States dollar on Monday, the Turkish lira rallied sharply on Tuesday after President Recep Tayyip Erdogan announced new measures aimed to safeguard local currency deposits. The government will now cover losses for lira deposit holdings if losses for the domestic currency against foreign currencies exceed the interest rates offered by banks.
– U.S. President Joe Biden is expected to announce updated plans on Tuesday for dealing with COVID-19 in light of the rapidly growing Omicron variant. More support for hospitals and vaccination efforts are expected, with 500 million free rapid tests to be made available for the public. The U.S. has also separately pledged US$580 million to the World Health Organization and other groups to aid the global fight against the virus.
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– Leftist Gabriel Boric won a landslide victory in Chile’s presidential election, securing 56 per cent of the votes and topping his closest challenger by 10 points. At 35, Boric will be the country’s youngest leader in modern times when he takes office in March. Boric first gained national prominence in the South American country during anti-government protests in 2019 triggered by subway fare hikes in Santiago.
