By Commodity News Service Canada
WINNIPEG, MB, January 28, 2016 (CNS Canada) – The following is a glance at the news moving markets globally.
FED HOLDS INTEREST RATES STEADY
The US Federal Reserve announced it will be keeping interest rates steady on Wednesday, but indicated it was still set to change monetary policy in 2016.
The Fed said in an announcement that the US will likely see moderate growth throughout the year.
Global turbulence reduces the likelihood of a March interest rate increase, but the Fed hasn’t ruled it out.
CRUDE OIL FUTURES HIGHER WITH POTENTIAL PRODUCTION CUT
Crude oil futures moved from a 12-year-low in early activity on Thursday as some members of the Organization of the Petroleum Exporting Countries (OPEC) have been calling for production cuts to stabilize prices.
UK’S ECONOMIC GROWTH SLOWED IN 2015
The UK’s economic growth throughout 2015 was 2.2 per cent, compared with 2.9 per cent the year prior, according to reports out of the country.
Services are one of the main drivers of the economy, according to analysts, while production and construction numbers are down.