12:30 Daily TSX Market Update | June 04, 2025 - video Dailymotion

The Market Online shares the latest stock market news.

Transcript

00:00Hello, this is your market update. With trade restrictions and new import duties still being

00:08threatened, the Bank of Canada held its benchmark interest rate steady at 2.75% for the second

00:14consecutive hold. Bank of Canada Governor Tiff Macklem stating uncertainty remains high and there

00:19was a clear consensus to hold policy unchanged as we gain more information. He also added it's still

00:25too soon to see the impact of retaliatory tariffs in the consumer price data. The Bank of Canada's

00:31next interest rate decision is set for July the 30th alongside a new monetary policy report.

00:37Today also marked the start of new 50% tariffs on steel and aluminum imports into the United States

00:43after U.S. President Donald Trump followed through on his plan to double the duties.

00:48Canada is the U.S.'s largest supplier and Prime Minister Mark Carney says the tariffs are both

00:53unlawful and unjustified and the government continues to negotiate to have tariffs removed.

00:59In the U.K., steel and aluminum imports remain at 50%.

01:03And on the heels of Web Summit Vancouver, where over 15,000 global attendees heard the latest in AI,

01:09both in sessions and on the exhibition floor, Google Canada has announced a new $13 million fund

01:15aimed at improving Canada's AI labor force. The AI Opportunity Fund will provide funding to four

01:21Canadian organizations for trading to improve AI skills. The list of organizations includes the

01:27Alberta Machine Intelligence Institute, the First Nations Technology Council, Skills for Change,

01:32as well as the Toronto Public Library. And that is your market update. Thanks so much for

01:36watching. From downtown Vancouver, I'm Karina Robertson.