By Glen Hallick
Glacier Farm Media MarketsFarm – The following is a glance at the news moving markets in Canada and globally.
- Statistics Canada reported on Tuesday that the July consumer price index fell to 2.5 per cent on a year-over-year basis from 2.7 per cent in June. While reduced inflation in travel tours, passenger vehicles and electricity helped to bring the rate down last month, it was tempered in part by shelter prices growth at 5.7 per cent compared to 6.2 per cent June. Analysts suggested reduced inflation is more likely to lead the Bank of Canada to another rate cut when the central bank makes its next announcement on Sept. 4.
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By Glen Hallick Glacier Farm Media | MarketsFarm – The following is a glance at the news moving markets…
- Increased unemployment is set to be one of the major topics of discussion at the United States Federal Reserve’s Jackson Hole economic symposium later this week. Unemployment has risen from 3.7 per cent in January to 4.3 per cent in July, with an additional 12 million people in the U.S. workforce. Analysts have projected the Fed will cut its key interest rates following the central bank’s Sept. 17-18 policy meeting.
- The World Health Organization stressed at a Tuesday news conference that Mpox – formerly monkeypox – is “not the new Covid.” Nevertheless, the WHO stated measures need to be taken to halt the spread of Mpox. The disease is transmitted from human to human through skin contact and can lead to a fever and a rash. An outbreak of a new strain of Mpox in the Democratic Republic of Congo has killed at least 450 people. The WHO called for vaccines to be made readily available to halt the spread of Mpox.
