WINNIPEG – The following is a glance at the news moving markets in Canada and globally.
– The United States Federal Reserve on Wednesday announced that it will raise its key interest rates by one-quarter of a point despite an ongoing banking crisis. In a statement released by the Fed after the announcement, it read, “some additional policy firming may be appropriate”, indicating a reduced commitment to raising the key interest rates. However, the statement also read that hiring is at a “robust pace” and that inflation remains “elevated”, which may mean that future rate hikes are still in the cards.
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Glacier FarmMedia | MarketsFarm – The following is a glance at the news moving markets in Canada and globally. –…
– Canadian Member of Parliament Han Dong resigned from the Liberal Party caucus on Wednesday and will sit as an independent. Earlier that day, a news report claimed that he asked a Chinese diplomat in February 2021 to delay the release of Michael Kovrig and Michael Spavor, two Canadians who were imprisoned in China from 2018 to 2021, in order not to benefit the Conservative Party. Dong admitted that he had talked to the diplomat but denied the allegations that he wanted their release pushed back.
– Zellers, the discount retailer which had ceased operations in 2013, will be revived with 12 new locations (three in Alberta and nine in Ontario) set to open on Thursday inside Hudson’s Bay stores. It was announced earlier this year that 25 new locations will eventually open across Canada, with customers expecting a variety of products to be sold including housewares, toys, fashion and furniture.
