Compiled by Glen Hallick, MarketsFarm
WINNIPEG, March 1 (MarketsFarm) – The following is a glance at the news moving markets in Canada and globally.
– As a Russian military convoy, reportedly 40 miles long, headed towards Kyiv on Tuesday, the Russian Defence Ministry issued a warning that “precision attacks” will target key buildings in the Ukrainian capital. Also, artillery fire continued to shell Kharkiv for a second day, as well as the port city of Mariupol. Meanwhile, a second day of talks was underway between Russian and Ukrainian delegations after the first day ended with no agreement. The United Nations estimated that approximately 500,000 Ukrainians are fleeing from their country, with upwards to one million displaced within it.
Read Also
Global Markets: Carney imposes tariffs to protect Canadian steel industry
By Glen Hallick Glacier Farm Media | MarketsFarm – The following is a glance at the news moving markets…
– Ahead of the Bank of Canada’s scheduled announcement on Wednesday, economists have predicted an interest rate increase of 0.25 per cent to help counter rising inflation. Statistics Canada estimated that inflation was at 5.1 per cent in January and the debt-to-disposable income ratio was 177.2 per cent. The latter meaning people who are faced with mounds of debt, as such homeowners, are worried interest rate hikes could cripple their ability to make payments.
– United States President Joe Biden will deliver his first State of the Union address to a joint session of Congress on Tuesday evening. Reports said Biden is not only expected to talk about his administration’s accomplishments, but also the U.S. economy, the COVID-19 pandemic and Russia’s invasions of Ukraine. Over the course of the last year, Biden’s approval ratings have fallen in the face of coming mid-term elections.
