Compiled by MarketsFarm
WINNIPEG, April 10 (MarketsFarm) – The following is a glance at the news moving markets in Canada and globally.
- Analysts’ expectations ahead of the next interest rate announcement from the Bank of Canada (BoC) have predicted the central bank will freeze its key rate at 4.5 per cent. The BoC is scheduled to make its next announcement on Wednesday. Analysts pointed to slowing inflation and higher-than-expected economic growth in Canada. Also, unemployment in the country has been holding at five per cent over the last four months.
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Glacier FarmMedia | MarketsFarm – The following is a glance at the news moving markets in Canada and globally. –…
- In an unusual move, the United States Department of Labor released its latest jobs report on the Good Friday holiday. The department said the U.S. economy added approximately 236,000 jobs in March, well below the six-month average of 330,000 per month. As well, the country’s unemployment rate held at 3.5 per cent – a historic low. The report was the department’s first since the collapse of the Silicon Valley Bank and the Signature Bank. Also, it will be the last before the next interest rate announcement from the U.S. Federal Reserve in early May.
- Tesla CEO Elon Musk announced on Monday that the electric car manufacturer will build a new battery factory in Shanghai, China. The factory is to build 10,000 of Tesla’s Megapack energy storage united per year, the same amount as the company’s California plant. Construction in China is set to begin this year with production scheduled to start during the summer of 2024. Tesla already has a car plant in Shanghai that produces 22,000 electric vehicles per week.
- Following three-days of military drills, the Chinese government issued at statement on Monday that warned peace and independence for Taiwan were “mutually exclusive.” Reports stated the Chinese military practiced a mock encirclement of Taiwan along with an aerial blockade. The Taiwan Ministry of National Defence said it detected 11 warships and 70 Chinese aircraft around the country. China considers Taiwan to be a breakaway province.
