WINNIPEG – The following is a glance at the news moving markets in Canada and globally.
– The central banks for both Canada and the United States are expected to announce plans to raise their key interest rates in an effort to alleviate rising inflation on Wednesday. Many analysts believe the Bank of Canada, which already ended its bond-buying program, will raise its key rate from 0.25 to 0.5 per cent. The U.S. Federal Reserve will hold a two-day policy meeting on Wednesday and will end its own bond-buying program in March. Inflation is currently at its highest rate in Canada and the U.S. since 1991 and 1982, respectively.
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– Russia warned on Wednesday of retaliation to the U.S. and its Western allies if its demands are not met, raising the prospects of an invasion of Ukraine. Russia previously demanded that NATO not accept Ukraine and other former Soviet Union nations into its membership, a notion the alliance has refused to entertain. Russia currently has 100,000 troops lined up along its border with Ukraine, despite denying plans of an invasion.
– Canadian National Railway (CN Rail) named Tracy Robinson as its new chief executive officer, the first woman to lead the company. She had previously spent 27 years with Canadian Pacific before being in charge of TC Energy’s pipelines for eight years. CN Rail also settled a dispute with activist investor TCI Fund Management Ltd., granting two seats on CN Rail’s board of directors. Former Quebec premier Jean Charest will also join the company’s board, though not as a TCI nominee.
