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Canada's July Inflation Rate Rebounded To 3.7% / An Indigenous Case Of New Coronavirus Infection In Henan Province, China

Canada's July Inflation Rate Rebounded To 3.7%

Bank of Canada Governor McCallum said that if temporary price pressure persists and appears to be more permanent, the central bank will take action to cool inflation. The local annual inflation rate unexpectedly rebounded to 3.7% in July, the highest level since May 2011 and well above the central bank's 2% target. The increase in comments by the market may be expected to start an interest rate hike cycle earlier than the Fed, which will drive the Canadian dollar exchange rate to rebound sharply from a recent 9-month low.

An Indigenous Case Of New Coronavirus Infection In Henan Province, China

In Shangqiu City, Henan Province, China, there was a local case of COVID-19 infection yesterday (24th), which failed to continue the local zero confirmed case. Zhang Boli, an academician of the Chinese Academy of Engineering, said that the end of the month will be a critical moment for the local epidemic to be fully controlled. It also believes that under strict control conditions, appropriate liberalization, the Mid-Autumn Festival and National Day holidays, citizens should be able to travel normally, but the epidemic prevention must not be slack, otherwise the epidemic may break out locally. The epidemic in the Mainland is showing signs of being under control, which will help alleviate market concerns about the slowdown of economic growth in the Mainland.

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