WINNIPEG – The following is a glance at the news moving markets in Canada and globally.
– Russian Defence Minister Sergei Shoigu made his first public appearance on Monday, inspecting troops in Ukraine, since the mercenary Wagner Group tried to overthrow him and Russian military chief Gen. Valery Gerasimov on Friday. Wagner Group leader Yevgeny Prigozhin led a “march of justice” on Friday, which resulted in the capture of the city of Rostov-on-Don and an attempt to take over Moscow. Prigozhin told his troops to retreat on Saturday after the Kremlin reportedly offered him and his followers amnesty in Belarus.
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– Wildfires in Quebec caused air quality warnings to be issued in western parts of the province and in eastern Ontario over the weekend. Wind patterns caused smoke from the fires to billow westward, which resulted in the cancellation of events in Montreal, Ottawa and in Gatineau, Que. Gatineau cancelled fireworks displays on Saturday for St. Jean Baptiste Day and will cancel them on Canada Day as well. Ottawa, as well as Sudbury and North Bay, Ont. were issued an air quality rating of 10 by Environment Canada, considered to be very high risk.
– In a survey of economists by Bloomberg, most believe the Bank of Canada (BoC) will raise its key interest rate by 25 basis points to five per cent before capping its tightening cycle. Many predict the BoC will see the last interest rate hike at its next meeting on July 12. Analysts also believe the economy will grow by 1.3 per cent in 2023 and 0.7 per cent in 2024.
