WINNIPEG – The following is a glance at the news moving markets in Canada and globally.
– Both the Bank of Canada (BoC) and the United States Federal Reserve decided to keep their key interest rates unchanged on Wednesday, but have hinted at raising rates over the next few months. “Everybody should expect interest rates to be on a rising path,” said BoC governor Tiff Macklem at yesterday’s press conference. “We’re on a rising path. How far and how fast? Those are decisions we’ll take at each meeting.” On the same day, the Fed announced it will raise interest rates starting in March and will phase out monthly bond purchases in the same month.
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– Canadian Prime Minister Justin Trudeau announced on Wednesday the country will expand its training mission Operation Unifier in Ukraine by three years and ship non-lethal equipment to the Eastern European nation’s military in an effort to withhold the threat of a Russian invasion. Sixty Canadian soldiers and up to 140 more will go to Ukraine in addition to the 200 already there.
– The Public Health Agency of Canada (PHAC) has reported 51 cases of BA.2, a subvariant of the Omicron COVID-19 variant, according to CTV News. BA.2 is a descendant of Omicron and has already been found in 40 other countries. The subvariant may be harder to detect due to the absence of certain genetic traits and could be more transmissible, but the World Health Organization has not yet declared it a “variant of concern”.
