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Global Markets: Canadian inflation steady at 0.1 per cent

By MarketsFarm

WINNIPEG, Sep. 16 (MarketsFarm) – The following is a glance at the news moving markets in Canada and globally.

– Canada’s annual rate of inflation held at 0.1 per cent in August, according to updated Statistics Canada data, as declining gasoline prices were offset by the rising cost of food. The 0.1 per cent growth was in line with expectations, but still well off the Bank of Canada’s 2.0 per cent target for the year.

– The United States backed away from its plan to impose tariffs on Canadian aluminum on Tuesday, hours before Canada was to announce retaliatory measures. However, the U.S. said it may reimpose tariffs if Canadian aluminum imports exceed monthly targets of 70,000 to 83,000 tonnes.

– Hurricane Sally made landfall on the coast of Alabama Wednesday morning as a Category 2 storm. The hurricane brought heavy winds and rains, causing flooding in many areas along the U.S. Gulf Coast.

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