Global Markets: Liberals to announce federal budget

By MarketsFarm

WINNIPEG, March 19 (MarketsFarm News) – The following is a glance at the news moving markets in Canada and globally.

– Canadian Finance Minister Bill Morneau will unveil the Liberal government’s latest budget today at 4 p.m. EST. Speculations as to what the budget will prioritize includes funding for broadband internet in rural areas, growing the economy, lowering taxes, and balancing the budget.

– A fire at a petrochemical storage facility in Houston, Texas has burned for two days, impacting the city’s air quality. Firefighters briefly lost water pressure overnight as eight storage tanks burned. These tanks store liquids used to make gasoline. The fire “demonstrates how chemical disasters happen far too often in our region, often due to lax regulatory oversight and enforcement,” Stephanie Thomas, researcher for Public Citizen, said in a report from Yahoo Finance.

– United Kingdom House of Commons Speaker John Bercow has further complicated Brexit plans by ruling that he would not allow a third vote on “substantially the same” motions as have been presented in the past, according to reports. As the clock ticks down on Britain’s deadline to leave the European Union, Brexit Secretary Stephen Barclay suggests a vote could take place next week, if Prime Minister Theresa May receives a delay from the EU. May requires a vote in both Houses of Parliament to change the March 29 departure date.

– Stock futures are on the rise ahead of the U.S. Federal Reserve’s Open Market Committee policy meeting. The committee will release a statement on Wednesday afternoon regarding the new policies, as well as public comments from Fed Chairman Jerome Powell. Experts predict the Fed will likely raise rates once in 2019.

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