By MarketsFarm
WINNIPEG, Oct. 27 – The following is a glance at the news moving markets in Canada and globally.
– The European Union raised its key interest rates by 0.75 percentage points on Thursday in an effort to curb inflation. “Inflation remains far too high and will stay above our target for an extended period,” said European Central Bank President Christine Lagarde to reporters, adding that further interest rate hikes were to be expected.
– The United States economy grew at a faster than expected rate in the past quarter, with the country’s gross domestic product up by 2.6 per cent annually during the July through September period, according to a report from the Commerce Department. The gain in the GDP came after two previous quarters of contraction, with stronger exports, steady consumer spending, and a solid jobs market behind the rise.
– Israel and Lebanon have officially approved an agreement on the maritime border between the two countries. The U.S. brokered deal ends a lengthy border dispute, allowing both countries to now move forward with energy exploration in the gas-rich Mediterranean Sea.
