Global Markets: Next federal budget comes April 7

Compiled by Glen Hallick, MarketsFarm

WINNIPEG, March 30 (MarketsFarm) – The following is a glance at the news moving markets in Canada and globally.

– Canadian Minister of Finance Chrystia Freeland announced on Tuesday that she will introduce the federal Liberal government’s next budget on April 7. Freeland is widely expected by analysts to table a budget that will guide Canada into the post-pandemic era. The numerous spending items likely to be included in the fiscal plan will be reduced deficits, house affordability, and tackling carbon emissions. Also, there will be the policies the Liberals and the opposition New Democrats recently agreed to, such as national dental care and child care programs. In light of the war in Ukraine, it’s expected that defence spending will increase as well.

– After a day of peace talks between Russia and Ukraine in Turkey, Kremlin spokesperson Dmitry Peskov stated on Wednesday there was little promising coming out of the negotiations. Ukrainian President Volodymyr Zelensky repeated his offer to make Ukraine a neutral country in exchange for security agreements from Russia and the international community. Despite Russian forces reducing their operations around Kyiv and Chernihiv, they stepped up the use of rockets and artillery on those cities and others.

– With the United States ready to impose more economic sanctions on Russia, Deputy Treasury Secretary Wally Adeyemo made a ‘you’re with us or against us’ style statement on Tuesday. Adeyemo said countries must choose to “continue to do business with the 30 countries that have imposed sanctions” or “choose to help Russia.” As well, he reiterated that the U.S. government is determined to go after the foreign assets held by Russian oligarchs who are supportive of President Vladimir Putin and his regime. Adeyemo stressed the U.S. would “take action against” those countries, such as China and India, who continue to do business with Russia.

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