(Bloomberg) -- Canada’s inflation rate decelerated to 2.8% in February, a positive development for central bank policymakers who’ve been waiting for more...
Focus expected to be on the "dot plot" for any clues to number, timing of any cuts this year -- Canada’s inflation rate decelerated to 2.8% in February, a positive development for central bank policymakers who’ve been waiting for more proof that their campaign of higher interest rates is working.Musk Says His Ketamine Prescription Is in Investors’ Best Interests
It’s the first time the country has had two straight months of sub-3% inflation since early 2021. Here’s what economists and strategists had to say:“Building on the January CPI report that was already showing broad-based easing in price pressures in Canada, the February report today reaffirmed those trends. Different measures of core inflation all decelerated and the diffusion index that measures the scope of inflation pressures also improved.
“Overall, we continue to expect a persistently soft economic backdrop to further slow inflation readings in Canada in the months ahead, allowing for the BOC to start lowering interest rates around midyear.”“The Bank of Canada had projected Q1 inflation to average 3.2% in its January MPR, while we are now headed for 2.8%.
OTTAWA — Canada's inflation figures came in softer than expected for a second consecutive month, suggesting to economists that the Bank of Canada will have ample grounds to begin cut interest rates in the coming months. Statistics Canada released its consumer price index report Tuesday, which shows the annual inflation rate fell to 2.8 per cent amid sharp declines in cellular and internet services, as well as slower grocery price growth.
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