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FULL TEXT- Bank of Canada keeps key policy rate unchanged

FULL TEXT- Bank of Canada keeps key policy rate unchanged

OTTAWA, Dec 10 (Reuters) - The Bank of Canada released the following statement on Wednesday: "The Bank of Canada today held its target for the overnight rate at 2.25%, with the Bank Rate at 2.5% and the deposit rate at 2.20%.
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FULL TEXT-Bank of Canada governor says economy proving resilient

FULL TEXT-Bank of Canada governor says economy proving resilient

OTTAWA, Dec 10 (Reuters) - The Bank of Canada released the following statement by Governor Tiff Macklem on Wednesday: "Good morning. I'm pleased to be here with Senior Deputy Governor Carolyn Rogers to discuss today’s monetary policy decision.
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Canadian Dollar Strengthens as Bank of Canada Holds Rates Steady

Canadian Dollar Strengthens as Bank of Canada Holds Rates Steady

The Canadian dollar experienced a slight increase against the U.S. dollar following the Bank of Canada's decision to maintain its current interest rate. The loonie rose by 0.1% to 1.3831 per U.S. dollar, or 72.30 U.S. cents. This decision comes after the central bank previously reduced its benchmark rate to a three-year low of 2.25% in October. Despite the rate hold, the Canadian economy remains resilient amid U.S. trade measures, though uncertainty persists. The market has adjusted its expectations for future rate hikes, with investors now pricing in 33 basis points of tightening in 2026, down from 35 basis points.
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US posts $173 billion budget deficit in November

US posts $173 billion budget deficit in November

WASHINGTON, Dec 10 (Reuters) - The U.S. government posted a lower $173 billion deficit in November as tariffs on imports helped to boost revenues, the Treasury Department said on Wednesday. The deficit last month was down $193 billion, or 53%, from the $367 billion deficit reported in November 2024.
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Mexico's Senate approves tariff hikes on Chinese, other Asian imports

Mexico's Senate approves tariff hikes on Chinese, other Asian imports

MEXICO CITY, Dec 10 (Reuters) - Mexico's Senate approved on Wednesday tariff hikes of up to 50% next year on imports from China and several other Asian countries, aiming to bolster local industry despite opposition from business groups and affected governments.
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Canadian Senator Urges Ottawa to Assert Sovereignty Over Disputed Island with U.S.

Canadian Senator Urges Ottawa to Assert Sovereignty Over Disputed Island with U.S.

A Canadian senator, Jim Quinn from New Brunswick, has called on the Canadian government to assert its sovereignty over Machias Seal Island, a small, uninhabited island located in a disputed area known as the 'Grey Zone' between the U.S. state of Maine and the Canadian province of New Brunswick. The island, which is a migratory bird sanctuary and home to a significant colony of Atlantic puffins, is at the center of a long-standing territorial dispute between Canada and the United States. The island is currently manned by a rotating crew of Canadian Coast Guards who maintain a lighthouse built by Canada in 1832. The dispute has been reignited by an American boat tour group, Bold Coast Charter Company, which describes the island as being part of the 'Maine Coast' on its website. Senator Quinn has urged Ottawa to review the permitting of this tour group and its mention on a government website.
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Canada's Ambassador to the U.S. Resigns Amid Upcoming Trade Agreement Review

Canada's Ambassador to the U.S. Resigns Amid Upcoming Trade Agreement Review

Kirsten Hillman, Canada's ambassador to the United States, has announced her resignation ahead of the scheduled review of the United States-Mexico-Canada Agreement (USMCA) in 2026. Hillman, who has served as ambassador for six years, played a significant role in the negotiations of the USMCA during President Trump's first term. Her departure comes at a time when trade talks between the U.S. and Canada have stalled, partly due to tensions over tariffs and political disagreements. Hillman was appointed as deputy ambassador in 2017 and became the first woman to represent Canada as ambassador to the U.S. in 2019. Her tenure included efforts to secure the release of two Canadians detained in China.
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German exports unexpectedly rise in October due to EU trade

German exports unexpectedly rise in October due to EU trade

By Maria Martinez BERLIN, Dec 9 (Reuters) - German exports rose slightly in October, confounding expectations for a decline thanks to European Union trade, while shipments to the United States and China fell sharply. 
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Chinese Premier Highlights Impact of US Tariffs Amid Surging Trade Surplus

Chinese Premier Highlights Impact of US Tariffs Amid Surging Trade Surplus

Chinese Premier Li Qiang has highlighted the negative impact of higher tariffs on the global economy, despite China's trade surplus surpassing $1 trillion. Speaking at a forum in Beijing, Li noted that the tariffs, which have been implemented by various countries, have significantly harmed global economic activity. Although Chinese exports to the United States have decreased, this has been offset by increased exports to other markets. The trade surplus has been bolstered by a 5.9% rise in exports from the previous year. The remarks come as China continues to focus on strengthening its domestic economy and technological advancements, with the Central Economic Work Conference outlining plans for the country's economic strategy through 2030.
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Canadian universities aim to attract top global scholars with funding boost

Canadian universities aim to attract top global scholars with funding boost

By Wa Lone TORONTO, Dec 9 (Reuters) - Canadian universities are trying to lure top global researchers with the help of new federal funding and immigration reforms just as U.S. campuses battle funding cuts from the Trump administration.
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Trump to tout economic gains in Pennsylvania amid voter cost concerns

Trump to tout economic gains in Pennsylvania amid voter cost concerns

By Nandita Bose and Jarrett Renshaw PHILADELPHIA, Dec 9 (Reuters) - President Donald Trump will visit Pennsylvania on Tuesday to defend his economic record and try to counter voter anxiety over rising costs, as Republicans brace for a tough fight to hold Congress in next year’s midterms.
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President Trump Considers New Tariffs on Indian Agricultural Imports Amid Trade Tensions

President Trump Considers New Tariffs on Indian Agricultural Imports Amid Trade Tensions

President Trump has indicated potential new tariffs on agricultural imports, specifically targeting Indian rice and Canadian fertilizers. This announcement was made during a White House meeting where Trump unveiled $12 billion in assistance for U.S. farmers. The move is in response to complaints from American farmers about the impact of cheap foreign goods on domestic markets. Trump criticized the alleged dumping of Indian rice, which he claims is undercutting U.S. producers. Additionally, he suggested imposing tariffs on Canadian fertilizers to encourage domestic production. This development comes amid ongoing trade tensions, with previous tariffs on Indian goods and strained trade relations with Canada.