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Global markets: Fed raises rates

By Commodity News Service Canada

WINNIPEG, March 16 – The following is a glance at the news moving markets globally.

– The US Federal Reserve boosted interest rates on Wednesday, news which carried into markets on Thursday.

The Fed raised interest rates a quarter point, though it signaled a dovish, gradual approach to monetary policy moving forward.

– Foreign investment in Canadian securities slowed to C$6.2 billion in January, down from C$10.2 billion in December. At the same time, Canadian investors increased their holdings of foreign securities by C$8.6 billion, led by purchases of US instruments, Statistics Canada said in a report on Thursday.

– US jobless claims in the week ending March 11 fell 2,000 to a seasonally adjusted 241,000—indicating the country’s labour force continues to be strong, the country’s labour department said on Thursday.

Last week marked the 106 consecutive week claims have been below 300,000, which indicates a healthy labour force.

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