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Republican presidential candidate and former President Donald Trump reacts during a campaign rally in Rome, Georgia, on March 9, 2024.

REUTERS/Alyssa Pointer

Hard Numbers: Trump seeks funds, Happiness drops, Inflation vs. interest rates, Bad air quality news, Measle cases rise

1 million: The campaign of former President Donald Trump called on one million supporters Wednesday to donate money as he struggles under the weight of his legal woes. Earlier this week, Trump – who remains a billionaire in terms of assets – failed to secure a bond for a $454 million judgment in a civil fraud case. If Trump can’t come up with the cash, his properties could be seized by New York’s attorney general.

15: Bummed out? The Great White North slid to 15th place in the annual World Happiness Report, down from No. 13 last year. But it was still well above the US, which dropped from No. 15 down to No. 23 in 2024. The dips in both countries were largely driven by unhappiness among people under 30.

2.8: Canadian inflation unexpectedly cooled in February, raising expectations that the Bank of Canada will cut interest rates in June. The consumer price index rose 2.8% last month compared to a year prior, surprising analysts who expected a 3.1% increase. Still, economists still expect the BoC to keep interest rates steady at its next meeting on April 10.

93: The US and Canada are dropping the ball on air quality. According to a report published Tuesday by Swiss air-quality monitor IQAir, only seven countries met the WHO’s guidelines for air quality in 2023 — Finland, Estonia, Australia, New Zealand, Grenada, Iceland, and Mauritius. Owing to last year’s record-setting wildfires, Canada was deemed the “most polluted country in Northern America” – ranking No. 93 worldwide, while the US stood at No. 102.

31: Measles is making a comeback in Canada and the US, thanks largely to unvaccinated travelers. Canada has seen at least 31 cases of the preventable disease so far this year and is also dealing with a shortage of vaccines. Meanwhile, the US has already tallied more cases in 2024 than the 58 instances recorded last year.

A view of the skyline and buildings at Shinjuku district during sunset in Tokyo, Japan June 20, 2021.

REUTERS/Pawel Kopczynski

Will Japan raise interest rates … to zero?

Japan’s central bank will debate a landmark interest rate rise next week that could bring interest rates to a staggering 0% after nearly a decade of negative rates.

As the saying goes, there are four types of economies: developed, underdeveloped, Argentina, and Japan. While most countries have been working hard to cool inflation, Japan has struggled with the opposite problem, deflation, since the 1990s. Lower prices at the grocery store are nice, but consumers pay for it on the other end: Businesses see revenues fall, struggle to pay their debts, and lower wages or downsize to break even (mostly the former in Japan). The economy stagnates and ordinary families suffer.

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Federal Reserve Chair Jerome Powell testifies to the Senate Banking Committee in Washington, DC.

Jasper Colt-USA TODAY via Reuters

Central bankers forecast clouds, with a chance of rate cuts

The millions of homeowners who have seen their mortgage payments double in recent years would no doubt concur with Mark Twain in his assessment of bankers – as the type of people who lend you an umbrella when the sun is shining and want it back as soon as it starts to rain.

Hopes for a break in the monetary policy clouds were frustrated this week as two North American central bankers said that interest rate cuts remain some way off.

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President Joe Biden speaks during a meeting of the Investing in America Cabinet in the Roosevelt Room of the White House in Washington, DC, US, on Friday. May 5, 2023.

Tom Brenner/Reuters

Rate cuts could help Biden and Trudeau’s reelection prospects

The polls are grim these days for incumbent governments. Both President Joe Biden and Prime Minister Justin Trudeau are trailing their challengers, Donald Trump and Pierre Poilievre, particularly when it comes to economic matters.

A new NBC News poll suggested only 36% of Americans approve of Biden’s handling of the economy, compared to 61% who disapprove. Trump held a 5 percentage point lead when it came to voting intentions. Similarly, two in three Canadians believe Trudeau is taking the country in the wrong direction, while Poilievre holds a lead of up to 15 points on voting intentions for an election that could be 18 months out.

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FILE PHOTO: Bank of Canada Governor Tiff Macklem takes part in a news conference after announcing an interest rate decision in Ottawa, Ontario, Canada April 12, 2023.

REUTERS/Blair Gable/File Photo

No rate cut just yet

The Bank of Canada held interest rates steady at 5% for the fourth time in a row on Wednesday, signaling that cuts may be coming, as analysts expect, in the spring. The bank is now focused on “how long it needs to stay at the current level,” Bank of Canada Governor Tiff Macklem said.

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Governor of the Bank of Canada Tiff Macklem walks outside the Bank of Canada building in Ottawa, Ontario.

REUTERS/Blair Gable

Know when to hold ‘em

On Wednesday, the Bank of Canada held its key rate unchanged at 5% – the third time it has done so since July. It noted that the global economy is slowing, along with inflation, but the softening numbers weren’t enough for it to lower rates. It also noted the rise in shelter inflation – rents and high mortgage costs due to elevated interest rates.
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Shawn Fain, president of the United Auto Workers (UAW) speaks as President Joe Biden joins striking UAW members on the picket line in Belleville, Mich., in September.

REUTERS/Evelyn Hockstein

Could union wage hikes worsen inflation?

It may be cold out, but bankers up north are sweating thanks to a flurry of union settlements that could, according to a new report from Toronto-Dominion Bank, have “staying power.”

For years, unionized workers’ pay failed to keep pace with inflation, but now labor negotiators are pressing to close the gap. The successful UAW strike in the United States led to 11% wage increases, and Canadian union settlements, though not as high, are rising as workers try to make up for ground lost to inflation.

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Rwandan President Paul Kagame attends the lighting ceremony of the Rwandan genocide flame of hope, known as the "Kwibuka" (Remembering), to commemorate the 1994 Genocide at the Kigali Genocide Memorial Center in Kigali, Rwanda April 7, 2023

REUTERS/Jean Bizimana

Hard Numbers: Rwanda’s Kagame will run again, the EU takes on Uber, water contamination threat in Libya, US Fed keeps cool

4: Rwanda’s President Paul Kagame, who has been in power since 2000, announced that he’ll run for a fourth term in next year’s election.

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