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Global Markets: CP Rail workers set to strike

By Commodity News Service Canada

WINNIPEG, April 18 (CNS Canada) – The following is a glance at the news moving markets in Canada and globally.

– The union representing 3,000 conductors and engineers has served a 72-hour strike notice to Canadian Pacific Rail. The Teamsters Canada Rail Conference members could strike just after midnight Friday if the two sides fail to reach an agreement by then.

– The Bank of Canada kept its key overnight interest rate unchanged at 1.25 per cent Wednesday morning. The accompanying statement kept a cautious tone on future moves.

– In its latest World Economic Outlook, the International Monetary Fund (IMF) is forecasting economic growth in Canada of 2.1 per cent in 2018 and slower 2.0 per cent growth in 2019. That would compare with the 3.0 per cent growth seen in 2017.

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