The WorldBank Announces an Update to its Expectations on Global Economic Growth
The WorldBank announced that it expects global economic growth to slow to 2.9% in 2019.
According to a press release, the WorldBank cites concerns over softening International trade and manufacturing activity, a rise in trade tensions, and financial market pressures surrounding large emerging economies.
TaxJar Announces New Funding
The “sales tax automation company for eCommerce businesses and developers” announced that it “has closed a $60 million growth equity round of funding from Insight Venture Partners.”
The new funds will be used to reach aggressive hiring targets, and invest in ‘product development, research, and go-to-market for their new mid-market offering.”
The Bank of Canada Keeps its Overnight Rate Steady
The Bank of Canada is holding its overnight rate at 1.75%. This follows 3 rate hikes which went into effect last year.
According to a press release, the Bank of Canada highlights concerns over slow growth in oil-producing provinces, global trade policy, and a weaker than expected housing market.