Glacier FarmMedia COVID-19 & the Farm

Global Markets: Trump claims he wanted to avoid pandemic panic

By MarketsFarm

WINNIPEG, Sept. 10 (MarketsFarm) – The following is a glance at the news moving markets in Canada and globally.

– United States President Donald Trump admitted he knew all along how dangerous the COVID-19 pandemic was going to be. In a recorded interview with journalist Bob Woodward, Trump claimed he didn’t want to panic the American public, stating “I always wanted to play it down.” Over the course of the pandemic, Trump has been roundly criticized for his inaction and lack of co-operation. As of Thursday, the U.S. leads the world with 6.36 million reported cases of COVID-19, according to Johns Hopkins University. So far in the U.S. there have been nearly 191,000 deaths, with 2.38 million people who have recovered, leaving 3.98 million active cases.

– As widely expected, the Bank of Canada announced on Wednesday it’s continuing to freeze its key interest rate at 0.25 per cent. The central bank noted that housing starts in Canada hit a 13-year high, which suggested the economic recovery is faster than initially thought. Tiff Macklem, the bank’s governor, is scheduled to deliver a speech on Thursday regarding the uneven effects the pandemic has on Canada’s economy.

– A large blaze in Beirut’s port on Thursday has left the city’s population nervous, one month after a massive explosion devastated the surrounding area. Officials said a warehouse with oil and tires caught fire, and no injuries have been reported.

– Following a fires on Tuesday that destroyed a refugee camp on the Greek island of Lesbos, another fire broke out on Wednesday. Approximately 13,000 people were in the camp at the time of the first fire, forcing them to flee. Greek authorities said the fires were started deliberately following the isolation of 35 refugees who tested positive for COVID-19.

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