By Glen Hallick
Glacier FarmMedia | MarketsFarm – The following is a glance at the news moving markets in Canada and globally.
- As widely expected by analysts, the Bank of Canada announced on Wednesday a quarter-point cut to its key interest rates with its overnight rate now at 2.5 per cent. The BoC noted weaker Canadian and global economies and less risk of higher inflation. This afternoon, the United States Federal Reserve will make its next rate move, also expected to be a quarter-point reduction.
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By Glen Hallick Glacier FarmMedia | MarketsFarm – The following is a glance at the news moving markets in Canada…
- The next federal budget will be unveiled on Nov. 4, Canadian Finance Minister François-Philippe Champagne announced on Tuesday. While the governing Liberals promised a number of big ticket items in this spring’s federal election, Prime Minister Mark Carney also said there will be cost-cutting measures. Short of a majority, the Liberals will need the support of at least three opposition MPs to pass the budget.
- There’s to be more canola grown in 2025/26, as Statistics Canada issued its crop production update on Wednesday. StatCan upped its call to 20.03 million tonnes from 19.94 million in August. All wheat output was raised to 36.62 million tonnes from 35.55 million, with spring wheat climbing to 26.61 million from 25.99 million.
- U.S. President Donald Trump began his second state visit to the United Kingdom on Wednesday, greeted by King Charles amid pomp and tight security. The main purpose of the visit is for Trump and U.K. Prime Minister Keir Srarmer to sign a US$42 billion technology pact.
