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Global Markets: Bank of Canada expected to keep rates steady

By Commodity News Service Canada

WINNIPEG, Dec. 5 (CNS Canada) – The following is a glance at the news moving markets in Canada and globally.

– The Bank of Canada is generally expected to be keeping interest rates unchanged when it releases its latest interest rate decision later Wednesday. However, the accompanying statement will be followed closely for signs of future moves. The Bank raised its key overnight rate by 0.25 points, to 1.75 per cent, in October.

– The funeral for former United States President George H. W. Bush is being held in Washington, D.C. on Wednesday. Bush passed away on Nov. 30 at the age of 94. The U.S. has declared a national day of mourning, with many government offices and financial markets closed for the day.

– China is reportedly in the process of restarting imports of U.S. soybeans and liquefied natural gas “as soon as possible”. The countries will continue to negotiate over a 90 day period, with plenty of uncertainty in the agricultural markets over the concrete details of the truce.

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