Global Markets: Bank of Canada expected to raise interest rates

By Commodity News Service Canada

WINNIPEG, July 9 (CNS Canada) – The following is a glance at the news moving markets in Canada and globally.

– The Bank of Canada is set to make its latest interest rate announcement on Wednesday, with most investors expecting an increase in the target overnight rate to 1.5 per cent.

– Heavy flooding in Japan over the weekend killed at least 112 people, with dozens still milling, according to reports. Millions of people were forced from their homes as a result of the flooding and landslides.

– Britain’s top official in charge of Brexit negotiations, David Davis, stepped down on Sunday citing concerns that Britain was “giving too much away, too easily.” British Prime Minister Theresa May appointed lawmaker Dominic Raab as his replacement.

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