Compiled by Glen Hallick, MarketsFarm
WINNIPEG, Sept. 13 (MarketsFarm) – The following is a glance at the news moving markets in Canada and globally.
– Inflation in the United States dipped slightly from 8.5 per cent in July to 8.3 per cent in August, according to the Bureau for Labor Statistics on Tuesday. That marked the second consecutive month that the consumer price index (CPI) has cooled off by a small amount. When food and energy prices are removed, as they are quite volatile, the CPI in the U.S. during August was 6.3 per cent compared to 5.9 per cent in July. As inflation remained quite high, there’s strong speculation in the markets that the U.S. Federal Reserve will raise its key interest rate by another 75 basis points.
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By Glen Hallick Glacier Farm Media | MarketsFarm – The following is a glance at the news moving markets…
– Ukrainian forces kept up their counteroffensive on Tuesday, as more territory is liberated from Russian troops. After nearly two weeks, more than 6,000 square kilometres have been taken back, stated Ukrainian President Volodymyr Zelensky. However, the claims could not be independently verified, but the Russian Defence Ministry acknowledged some captured territory has been retaken by Ukraine. Meanwhile, the Zaporizhzhia nuclear power plant continued to be shelled, creating the possibility of a major nuclear disaster.
– Statistics Canada (StatCan) reported on Monday that for the second quarter of this year, Canadians owe approximately C$1.82 to for every dollar of disposable household income. That’s up from nearly C$1.80 in the first quarter. All tolled, StatCan pegged household debt in the second quarter at C$56.3 billion of which 86.5 per cent is mortgages.
