Glacier FarmMedia — The following is a glance at the news moving markets in Canada and globally.
- The Bank of Canada held its key overnight interest rate steady at 2.25 per cent in its latest policy announcement Wednesday morning. Governor Tiff Macklem said uncertainty around the forecast was “heightened” in a prepared statement, pointing to elevated geopolitical risks and the unpredictability of United States trade policies. Economists are divided on future monetary policy moves from the central bank.
- The Iranian rial fell to a record low of 1.6 million to one U.S. dollar on Wednesday. The currency has lost five per cent of its value over the past month, as economic protests were met by a harsh government crackdown.
- Combined casualties in Russia’s nearly four-year war on Ukraine could soon hit two million, says a new report from the Center for Strategic and International Studies. Russian forces reportedly sustained 1.2 million casualties — which includes about 325,000 soldiers who were killed, along with the wounded and missing — marking the largest losses for a single country since World War II.
