Compiled by MarketsFarm
WINNIPEG, Sept. 22 (MarketsFarm) – The following is a glance at the news moving markets in Canada and globally.
- In the latest turn of the Canada-India dispute, a CBC report on Friday stated Indian officials – when speaking privately – have not denied any Indian government role in the murder of Canadian citizen Hardeep Singh Nijjar. Furthermore, the revelation not only comes from Canadian diplomats but also from the Five Eyes intelligence alliance. The latter is comprised of Canada along with Australia, New Zealand, the United States and the United Kingdom. Despite demands from the Indian government, Canadian Prime Minister Justin Trudeau has refused to divulge the evidence supporting his accusation.
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- United Auto Workers president Shawn Fain is set to announce on Friday whether the union will expand its targeted picket lines in the U.S. or not. In the week-old labour dispute with Ford, General Motors and Stellantis, less than 10 per cent of the UAW’s 146,000 members are striking, with picket lines set up at one plant per automaker. Earlier this week, Fain warned the big three that the strike could expand if no real progress was made in contract talks by today.
- Divisions between U.S. Republicans could lead to a shutdown of the country’s government within 10 days, according to reports. Most recently, the House of Representatives narrowly defeated an US$886 billion defence bill, with five ultra-conservative Republicans voting alongside Democrats. That has left House majority leader Kevin McCarthy scrambling to unify Republicans to restart negotiations with the Biden administration to avoid a shut down. However, the GOP ultra-conservatives oppose McCarthy.
- In contrast to most central banks, the Bank of Japan was resolute on Friday in maintaining its extremely low interest rates as the means to combat inflation. The BoJ kept its short-term rate at minus 0.1 per cent and the 10-year bond yield at zero per cent. As with other central banks, the BoJ has pegged two per cent inflation as its target level.
