The European Commission announced that it was imposing tariffs on US imports into the EU in response to new US tariffs on EU steel and aluminum.
Wood Markets News
Uniboard Invests CA$5.5 Million in Robotic Technology at Its Val-d’Or, QC, Plant
Uniboard is investing CA$5.5 million in an innovative robotic material handling system at its Val-d’Or, Quebec, plant.
US Producer Price Index Increases 3.2% Year-Over-Year in February
On an unadjusted basis, the Producer Price Index (PPI) for final demand increased 3.2% year-over-year.
US Mortgage Rates Creep Higher in the Week Ending March 13
The 30-year fixed-rate mortgage averaged 6.65%, up from last week when it averaged 6.63%, Freddie Mac reported.
Canadian Building Permit Values Decline 3.2% in January
The value of building permits issued in Canada decreased 3.2%, or CA$425.8 million, to $12.8 billion in January.
US New-Home Purchase Mortgage Applications Increase 0.3% in February
Mortgage applications for new-home purchases increased 0.3% in February, MBA reported. Year-over-year, mortgage applications decreased 6.9%.
US Weekly Initial Jobless Claims Decline in the Week Ending March 8
The advance figure for seasonally adjusted initial unemployment claims was 220,000, a decrease of 2,000 from the previous week’s revised total.
Bank of Canada Reduces Its Target Overnight Interest Rate Amid Uncertainty of US Tariffs
The Bank of Canada reduced its target for the overnight rate by 0.25% to 2.75%, with the Bank Rate at 3.00% and the deposit rate at 2.70%.
Okanagan Indian Band a Major Participant in BC Wildfire Salvage Agreement
The OKIB received $89,795 for a fiber recovery project that supported the removal of burned fiber from the first approved Wildfire Salvage Opportunity Agreement in BC, Parksville Qualicum Beach News reported.
US Consumer Price Index Rises 2.8% Year-Over-Year in February
The Consumer Price Index for All Urban Consumers increased 0.2% on a seasonally adjusted basis in February. Over the past 12 months, the all-items index increased 2.8% before seasonal adjustment.