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Global Markets: Poloz to testify at Finance Committee

By Commodity News Services Canada

WINNIPEG, Oct. 30 (CNS Canada) – The following is a glance at the news moving markets in Canada and globally.

– Bank of Canada governor Stephen Poloz will testify today in front of the House of Commons finance committee to explain why the bank increased its key interest rates by 25 basis points to 1.75 per cent.

– A drop in cannabis stocks accounted for a third of the 11 per cent decline in the S&P/TSX Venture Composite Index.

– Trade tensions between the United States and China continue to fuel a decline in oil futures, falling two per cent in New York to below US$66 per barrel.

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