Global Markets: Euro zone inflation hits record high

By MarketsFarm

WINNIPEG, Feb. 2 (MarketsFarm) – The following is a glance at the news moving markets in Canada and globally.

– Inflation in the Euro zone rose to a record high or 5.1 per cent in January, according to a report from Eurostat. The growth was up from 5.0 per cent the previous month and well above pre-report expectations that the pace of inflation would decline to 4.4 per cent on the month. The European Central Bank holds a policy meeting on Thursday, with their current inflation target at only 2.0 per cent.

– The United States will send 3,000 troops to Poland, Germany and Romania over the next few days in order to support allies in the region amid mounting tensions between Russia and Ukraine, according to reports. Ukrainian President Volodymyr Zelenskyy said the country is still concentrating on ‘peace’, while Russia’s Vladimir Putin accused western nations of trying to provoke a war.

– Conservative Members of Parliament will vote Wednesday on Erin O’Toole’s leadership of the party. O’Toole has led the party for 18 months, with detractors growing more vocal in recent months. A simple majority of 50 per cent plus one of the 119 sitting Conservative MPs would force O’Toole to step down in favour of an interim leader.
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