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Global Markets: Inflation slows in UK

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Published: December 14, 2022

By MarketsFarm

 

WINNIPEG, Dec. 14 – The following is a glance at the news moving markets in Canada and globally.

 

  • The United Kingdom’s annual rate of inflation fell from its 41-year high of 11.1 per cent hit in October to 10.7 per cent, according to the Office for National Statistics (ONS). The drop beat expectations and comes just a day ahead of the Bank of England’s next interest rate decision where rates are expected to be hiked again in an ongoing effort to curb inflation.
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  • United States President Joe Biden signed new legislation into law on Tuesday providing federal recognition of same-sex and interracial marriage amid heightened concerns that the Supreme Court could reverse legal precedent. The Respect for Marriage Act received bipartisan support in the country’s House and Senate, although numerous Republicans did oppose.

 

  • Alexander Ovechkin of the Washington Capitals scored the 800th goal of his career Tuesday night, netting a hat trick in Chicago. Ovechkin is now only the third player in the National Hockey League to ever score 800 goals, joining Wayne Gretzky and Gordie Howe.

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