IMF warns 'worst is yet to come' as steps to slow inflation raise risks
BNN Bloomberg
The International Monetary Fund warned of a worsening outlook for the global economy, highlighting that efforts to manage the highest inflation in decades may add to the damage from the war in Ukraine and China’s slowdown.
The IMF cut its forecast for global growth next year to 2.7 per cent, from 2.9 per cent seen in July and 3.8 per cent in January, adding that it sees a 25 per cent probability that growth will slow to less than 2 per cent.
The risk of policy miscalculation has risen sharply as growth remains fragile and markets show signs of stress, the IMF said Tuesday in its World Economic Outlook. About one third of the global economy risks contracting next year, it said, with the U.S., European Union and China all continuing to stall.
The impact of the Federal Reserve’s monetary policy tightening will be felt globally, with the dollar’s strength versus currencies in emerging and developing markets adding to inflation and debt pressures.
U.S. markets ticked slightly lower and oil prices rose early Tuesday as the war in the Middle East continued a day after U.S. President Donald Trump said the United States had made progress in talks with the Islamic Republic to end the conflict.
Bank of Montreal said on Tuesday it plans to roll out tokenized cash capabilities in collaboration with CME Group and Google Cloud, as it seeks to meet rising demand for real‑time payments amid a global shift toward around‑the‑clock trading.
From rolled steel to kitchen cabinets, Canadian businesses hit by targeted U.S. tariffs are struggling to respond as the trade war drags into its second year.
Global benchmarks mostly rebounded Tuesday, in a mood of cautious relief after U.S. President Donald Trump said the United States has talked with Iran about a possible end to their war.
It’s that time of the year again, tax time, a time to file your annual return with the Canadian Revenue Agency.
Gold seen as overbought as Iran tensions ease, with falling oil prices lifting stocks and shifting investor sentiment toward risk assets.
Stock markets in Canada and the U.S. rallied after President Donald Trump said the United States has talked with Iran about a possible end to the war.
A cautious relief swept through financial markets Monday after President Donald Trump said the United States has talked with Iran about a possible end to their war.
A pipeline leak in Sarnia, Ont., has been located more than a week after a sheen reportedly turned up on the St. Clair River.
U.S. President Donald Trump on Monday said the U.S. was talking with a “respected” Iranian leader and claimed the Islamic Republic was eager for a deal to end the war. He also extended a deadline for Iran to reopen the crucial Strait of Hormuz or face attacks on its power plants, saying it has an additional five days.
Berkshire Hathaway, the conglomerate built by Warren Buffett, is buying a 2.49 per cent stake in Japanese insurer Tokio Marine Holdings for about US$1.8 billion as part of a new strategic partnership, deepening its financial commitment to Japan.
Relief is ripping through financial markets after U.S. President Donald Trump said the United States has talked with Iran about a possible end to their war, despite Iran’s denials.