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Global Markets: Expect interest rates to rise – Poloz

By Commodity News Services Canada

WINNIPEG, Nov. 1 (CNS Canada) – The following is a glance at the news moving markets in Canada and globally.

– Appearing before the House of Commons finance committee, Bank of Canada Governor Stephen Poloz said Canadians should expect interest rates to rise to three per cent; however there was no indication as to when.

– Rail service to Churchill, Man. resumed Wednesday. The service to the northern Manitoba community, with the province’s only deep-water port, was severed in May 2017 by washouts along the rail line. Prime Minister Justin Trudeau will be in Churchill on Thursday for the official reopening. The Artic Gateway Group, which includes AGT, acquired the Hudson Bay Railway and the Port of Churchill from Omnitrax.

– United States President Donald Trump and his Chinese counterpart, Xi Jinping, are set to meet at the G-20 summit in Argentina Nov. 30 to Dec. 1. Should progress not be made on trade, Trump indicated the U.S. could impose more tariffs on China.

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