By MarketsFarm
WINNIPEG, Aug. 4 – The following is a glance at the news moving markets in Canada and globally.
– The Bank of England raised its key interest rate by half a percentage point on Thursday, taking the country’s Bank Rate to its highest level since 2008 at 1.75 per cent. The hike was taken to help temper rising inflation, which is expected to climb above 13 per cent in the country by October.
– China is conducting its largest military exercises in the Taiwan Strait in over 20 years, including live-fire missile strikes. The military exercises were seen as a flex of power following a visit by United States House of Representatives Speaker Nancy Pelosi to the self-governing island earlier this week. China claims Taiwan as its own territory and has threatened annexation.
– Representatives of Iran, the U.S. and the European Union resumed talks in Vienna on Thursday in an effort to salvage Iran’s nuclear deal from 2015.
