Compiled by Glen Hallick, MarketsFarm
WINNIPEG, Nov. 3 (MarketsFarm) – The following is a glance at the news moving markets in Canada and globally.
– Canadian Minister of Finance Chrystia Freeland, who also doubles as Deputy Prime Minister, will make the federal government’s fall economic statement on Thursday. Freeland is expected to lay out the path the government will take to combat inflation. Ahead of her statement, analysts suggested the government needs to control the federal deficit, limit new spending measures, and provide more clean energy tax credits. Freeland is scheduled to speak at approximately 3 pm CDT.
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By Glen Hallick Glacier Farm Media | MarketsFarm – The following is a glance at the news moving markets…
– The United States Federal Reserve upped its key interest rates by 75 basis points on Wednesday, as widely expected. The central bank’s rates are now 3.75 to four per cent. Afterward, Fed chair Jerome Powell said future rate hikes could be smaller as the U.S. economy struggles to cope with them. As with other central banks around world, the rate hikes are said to counter inflation by attempting to curb demand.
– Former Pakistan prime minister Imran Khan was shot on Thursday in a possible assassination attempt. Khan was struck in the right leg while participating in a protest march in Wazirabad. Four other people were also hurt during the shooting. A male suspect was later arrested but he has yet to be charged. Authorities have not confirmed if Khan was deliberately targeted or not. Last month, Pakistan’s election commission said Khan was ineligible to hold public office, which the 70-year-old former cricket star said is politically motivated. Prime Minister Shehbaz Sharif stated there will be national elections in 2023.
