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Global markets: Bank of England holds interest rates steady

By Commodity News Service Canada

WINNIPEG, July 14 – The following is a glance at the news moving markets globally.

BANK OF ENGLAND HOLDS INTEREST RATES STEADY
The Bank of England left interest rates unchanged on Thursday, surprising many market watchers, who had expected a cut in light of economic turbulence from Britain’s decision to leave the European Union.

However the bank is expected to introduce stimulus measures within a month.

CANDIAN REFINERY RECEIPTS DOWN FROM YEAR-AGO LEVELS
Canadian refineries received 7.7 million cubic metres of crude oil in April, a 4.6 per cent decrease from the same month in 2015, Statistics Canada said in a report on Thursday.

According to StatsCan, over the same period, refinery receipts of domestic crude oil fell 6.8 per cent to 4.7 million cubic metres.

Crude oil imports were down one per cent to three million cubic metres in April, representing 39.5 per cent of total crude oil received at refineries in Canada.

US JOBLESS CLAIMS REMAIN UNCHANGED
US jobless claims were unchanged in the week ended July 9, data from the country’s labour department said.

Seasonally adjusted initial claims held steady at 254,000.

CANADA’S NEW HOUSING PRICES UP IN MAY
The New Housing Price Index (NHPI) rose 0.7 per cent in May, following a 0.3 per cent increase in April. This was the largest monthly advance since July 2007, and was mainly driven by higher new housing prices in the combined region of Toronto and Oshawa and in Vancouver, Statistics Canada said in a report on Thursday.

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