WINNIPEG – The following is a glance at the news moving markets in Canada and globally.
– Statistics Canada (StatCan) reported on Tuesday morning that Canada’s inflation rate declined to 5.2 per cent in February, down from 5.9 per cent from the month before. StatCan noted that the decline was due to a high monthly increase in prices from February 2022 at the start of Russia’s invasion of Ukraine. In February, food prices were up 10.6 per cent from one year ago but energy prices were down 0.6 per cent, their first yearly drop since January 2021. Excluding food and energy, prices in February were up 4.8 per cent from one year earlier.
Read Also
Global Markets: PM, premiers to meet for summit
Glacier FarmMedia | MarketsFarm – The following is a glance at the news moving markets in Canada and globally. –…
– Canadian Prime Minister Justin Trudeau said on Tuesday that a vote later today on the Conservatives’ motion for a study into foreign interference on Canada’s elections will not be a confidence vote. If passed, Liberal cabinet ministers and officials would be forced to testify in front of the House of Commons Access to Information, Privacy and Ethics Committee. Trudeau had already named former Governor General David Johnston as an Independent Special Rapporteur tasked with making an assessment on foreign interference and Canadian democracy, but Conservatives have criticized Trudeau’s choice due to Johnston’s membership with the Pierre Elliott Trudeau Foundation.
– The International Monetary Fund on Monday approved a US$3 billion bailout program for Sri Lanka over four years to help shore up the country’s economy. However, the IMF also added it will examine Sri Lanka’s governance for corruption and vulnerabilities. US$333 million will be dispersed immediately to ease the country’s humanitarian crisis and Sri Lanka will no longer be considered a bankrupt nation in the eyes of the IMF.
