NEWSLETTER - DEC 11, 2022
Wholesale prices rose 0.3% in November, more than expected, despite hopes that inflation is cooling
The producer price index, a measure of what companies get for their products in the pipeline, increased 0.3% for the month and 7.4% from a year ago.
The producer price index, a measure of what companies get for their products in the pipeline, increased 0.3% for the month and 7.4% from a year ago.
Markets now will turn their attention to the more closely watched consumer price index, which is due out Tuesday morning.
Sourced from CNBC
Bank of Canada raises key interest rate to 4.25 per cent, its highest since 2008
The Bank of Canada has raised its overnight rate by 50 basis points to 4.25 per cent, marking its seventh rate hike in nine months. The last time the bank’s policy rate was this high was in January 2008.
The inflation rate remained high at 6.9 per cent in October, well above the bank’s 2 per cent target. Higher gas prices put upward pressure on the cost of most goods and services, according to the Consumer Price Index released by Statistics Canada last month.
Sourced from CTV
FTC sues to block Microsoft’s acquisition of Activision Blizzard
Federal Trade Commission commissioners voted 3-1 in favor of a complaint against Microsoft’s planned $68.7 billion acquisition that will go before the agency’s administrative law judge.
Microsoft “believed in giving peace a chance” and offered concessions to the U.S. agency. Now it looks forward to going to court.
Sourced from CNBC
