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Global Markets: Canadian inflation steady at 2.0%

By MarketsFarm

WINNIPEG, Aug. 21 (MarketsFarm) – The following is a glance at the news moving markets in Canada and globally.

– Canada’s annual rate of inflation held steady at 2.0 per cent in July, according to updated data from Statistics Canada. Pre-report market expectations had been for a slight dip in the Consumer Price Index on the month, and the solid reading was seen as lowering the chances for an interest rate cut from the Bank of Canada next month.

– Iranian President Hassan Rouhani warned that a cut to the country’s oil exports would hurt the security of international waterways. “World powers know that in the case that oil is completely sanctioned and Iran’s oil exports are brought down to zero, international waterways can’t have the same security as before,” Rouhani said in a meeting with Iran’s Supreme Leader Ayatollah Ali Khamenei, according to reports. “So unilateral pressure against Iran can’t be to their advantage and won’t guarantee their security in the region and the world.”

– United States President Donald Trump has cancelled a planned trip to Denmark at the beginning of September citing Danish Prime Minister Mette Frederiksen’s comments that Denmark has no interest in discussing selling Greenland. Greenland is an autonomous territory of Denmark with its own government.

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