By Commodity News Service Canada
WINNIPEG, March 7 – The following is a glance at the news moving markets globally.
JAPAN’S CENTRAL BANK EXPECTED TO CUT FORECAST IN SPRING
The Bank of Japan is expected to lower its economic forecasts for the next fiscal year at a quarterly review in April.
Analysts say flopped stimulus measures are one source of the gloomier outlook, in addition to a sideways economy.
In January the Bank of Japan said it expected the country’s economy to expand 1.5 per cent in the year beginning in April.
SRI LANKA GETS IMF LOAN
Sri Lanka will be borrowing from the International Monetary Fund, according to reports on Monday.
The US$1.5 billion loan will be used toward increasing foreign exchange reserves and avoiding balance of payments problems.
CHILEAN ECONOMY SLOWS TO PACE NOT SEEN IN SIX YEARS
Chile’s economy grew at its slowest pace in almost six years in January, according to reports on Monday.
An economic activity index, which includes about 90 per cent of the economy gained 0.3 per cent in January compared with the same month last year.
The declines were in part due to weaker manufacturing production and a slump in copper prices hurting the country’s mining industry.