Glacier FarmMedia — The following is a glance at the news moving markets in Canada and globally.
- Canada’s annual rate of inflation dipped to 2.3 per cent in January from 2.4 per cent the previous month, reported Statistics Canada. Gasoline prices were down 16.7 per cent year over year, accounting for much of the total decline. Excluding gasoline, the CPI was up 3.0 per cent annually.
- Iran temporarily closed the Strait of Hormuz on Tuesday to conduct life fire military drills. The show of force was conducted as the country held another round of indirect talks with the United States in Geneva over its nuclear program. An understanding on “the main principles” of an agreement was said to have been reached, although issues remain unresolved. An estimated 20 per cent of the world’s oil passes through the Strait of Hormuz.
- U.S. civil rights activist Jesse Jackson passed away Tuesday at the age of 84. Jackson was a long time presence in U.S. politics, although he never held an elected position.
