By Glen Hallick
Glacier FarmMedia | MarketsFarm – The following is a glance at the news moving markets in Canada and globally.
- There were no changes to the Bank of Canada’s key interest rates on Wednesday. The BoC opted to freeze its rates at 2.25 per cent as economic trends improved, In October, the central bank cut its rates by 25 basis points. The United States Federal Reserve is set to make its rate announcement today at 1 p.m. CST with analysts expecting a quarter-point cut.
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By Glen Hallick Glacier FarmMedia | MarketsFarm – The following is a glance at the news moving markets in Canada…
- Ahead of that Fed announcement, the price of silver has been on the rise, pushing above US$61 per ounce in early trading on Wednesday. On Tuesday, silver closed above US$60/oc. for the first time. A report said silver, along with gold, find favour with investors as interest rates come down and the U.S. dollar weakens.
- Australia implemented the world’s first social media ban for kids under 16-years-old on Wednesday. The ban is to block Australian children from addictive social media platforms and harmful content. The initial list of sites include Instagram, Snapchat, TikTok, YouTube, Twitch, Facebook, Reddit, Threads, X, and Kick.
- A Leger opinion poll found that 50 per cent of 1,548 Canadians polled said they support a new pipeline to be built from Alberta to the British Columbia coast. Released on Wednesday, the survey found the strongest support was in Alberta at 67 per cent with the lowest in Quebec at 37 per cent. The purpose of the pipeline is to boost Canadian oil exports to countries other than the U.S.
- The U.S. Department of Agriculture announced four private sales on Wednesday. Those included 136,000 tonnes of 2025/26 soybeans to China and two sales of 2025/26 soybeans to unknown destinations totaling 331,000 tonnes. Also, 120,000 tonnes of 2025/26 soymeal was purchased by Poland.
