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Global Markets: BoC to publish deliberation notes

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Published: February 8, 2023

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

– For the first time ever, the Bank of Canada (BoC) will release a summary of its deliberations on the central bank’s latest key interest rate hike on Wednesday. On Jan. 25, the BoC increased the rate by 25 basis points to 4.5 per cent. Last year, the bank announced it would start publishing summaries two weeks after its interest rate decisions in 2023. BoC governor Tiff Macklem told an audience in Quebec City on Tuesday that inflation is “turning the corner” and higher interest rates are starting to “rebalance the economy”.

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By Glen Hallick   Glacier Farm Media | MarketsFarm – The following is a glance at the news moving markets…

– United States President Joe Biden delivered his State of The Union address on Tuesday, asking fellow lawmakers to work with him, to rebuild the economy and unite a nation fraught by pessimism and political divide. Biden highlighted record job creation and new investments in infrastructure as the U.S. recovers from the COVID-19 pandemic. The address was the first under a Republican-controlled House of Representatives and Arkansas Gov. Sarah Huckabee Sanders delivered the party’s response to Biden’s speech, saying that the administration was more interested in “woke fantasies” and that Americans have a choice between “normal and crazy”.

– Los Angeles Lakers forward LeBron James became the National Basketball Association’s (NBA) all-time leading scorer on Tuesday during a 133-130 home loss to the Oklahoma City Thunder. James, a four-time NBA champion and four-time winner of the league’s Most Valuable Player award, broke the record with 10 seconds left in the third quarter. He now has 38,390 points in his 20-year NBA career, surpassing the former record of 38,387 held by Kareem Abdul-Jabbar, who was in attendance.

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