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America's annual inflation rate fell to 2.8% in February, below forecasts of 2.9%.

The core rate, which excludes volatile food and energy prices, was 3.1%.

The figures raised expectations that the Federal Reserve would pursue more aggressive interest rate cuts.

However, the data predates most of Donald Trump's new tariffs, raising concerns that price pressures could rise further.

Vladimir Putin visited Russian troops in Kursk, a border region held by Ukraine.

The Russian president's trip, his first since Ukraine's surprise assault last summer, came shortly after

Ukraine agreed in principle to a 30-day ceasefire deal proposed by America. On Wednesday, Mr. Trump

said that American officials were traveling right now to Russia to discuss the idea.

Canada announced $21 billion in tariffs on American goods in response to Mr. Trump's steel and aluminium duties, which came into effect on Wednesday.

On making the announcement, Dominic LeBlanc, Canada's finance minister, called America's tariffs

unjustified. The move follows the European Union's decision to introduce $28 billion in retaliatory

tariffs. Shares in American automakers fell on the news. Meanwhile, the Bank of Canada cut interest rates by a quarter of a percentage point to 2.75%

while warning that Mr Trump's tariffs had caused a, quote, new crisis.

The central bank, which has eased rates seven times in nine months, said that uncertainty

was already hurting investment.

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