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Global Markets: China economic growth beats expectations

By Commodity News Service Canada

WINNIPEG, Jan. 18 (CNS Canada) – The following is a glance at the news moving markets in Canada and globally.

– China’s economy grew at a faster-than-expected pace in the fourth quarter of 2017, with the gross domestic product rising by 6.8 per cent during the period. Industrial output in December also beat expectations, increasing by 6.2 per cent.

– Toronto is the only Canadian city still in the running to be the home of Amazon’s second headquarters after the company announced its shortlist on Thursday. The other 19 still in contention are all based in the United States.

– Following the lead of the Bank of Canada rate hike on Wednesday, all of the major banks in the country have also raised their prime lending rates.

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