Global Markets: UK’s May to announce Brexit ‘Plan B’

By Commodity News Service Canada

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

– United Kingdom Prime Minister Theresa May is set to unveil a new Brexit plan on Monday, a week after the previous plan was rejected by parliament. Dealing with the border between Northern Ireland and the Irish Republic remains a contentious issue.

– The world economy will grow at a weaker pace in 2019 than originally expected, according to an updated forecast from the International Monetary Fund. The global lender lowered its global growth forecast for the year to 3.5 per cent, from a 3.7 per cent estimate in October, citing trade tensions as one reason behind the downgrade.

– A slowdown in China’s economic growth in the fourth quarter of 2018 saw the country’s gross domestic product increase at its lowest rate in nearly three decades, according to updated data from the country. The 6.6 per cent annual GDP growth in 2018 was the smallest since 1990 and compares with the revised reading of 6.8 per cent in 2017. Some analysts expect actual growth was likely even lower than the official data suggests.

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