El Salvador's president, Nayib Bukele, declared a major victory in legislative elections, citing a projection that his party and its allies had won the biggest congressional majority in the country's history.
DEREK HOLT, VICE PRESIDENT OF CAPITAL MARKETS ECONOMICS AT SCOTIABANK
“The combination of the Q4 beat and the strong gain in January in lockdown continues to position the Bank of Canada in catch-up mode on its forecasts. Remember they’ve been playing catch-up on Q4. The October MPR they had 1% contraction for the fourth quarter, and then in the January MPR they revised that up to 4.8% and now we’ve just got 9.6%. So they’re being blown out of the water in terms of their growth forecasting - the way the year ended and transitioning into the new year. The Bank of Canada is behind the curve on Q4 and the start of Q1.”
By Reuters Staff
2 Min Read
LAGOS, March 2 (Reuters) - Queues for fuel formed across Nigeria on Tuesday over fears of a rise in gasoline costs, even as the state oil company promised consumers that prices would remain stable.
Lines of cars waiting to enter petrol stations snarled the traffic in Lagos, the packed commercial capital, while some stations in the capital Abuja stopped selling fuel for fear of losing money if prices rose.
Nigeria said last year it had liberalized the sector, and eliminated costly subsidies. But state oil company NNPC has acknowledged it remains the sole gasoline importer. It is also setting prices at fuel depots.
Global equity markets were little changed on Tuesday as Wall Street retreated and investors took stock of gains from Monday's surge, pausing to gauge whether a bond yield jump had run its course.