Inflation slows more than expected, raising odds of Bank of Canada interest rate cut in June
flummoxed analysts again, slowing to 2.8 per cent year over year instead of rebounding to 3.1 per cent as most analysts predicted.
The Bank of Canada announces its next decision on April 10, but Brown thinks a cut at that meeting is unlikely. Prices have cooled across a broad swath of components in the CPI basket, with the share of items rising more than three per cent — “a metric closely watched by governor Macklem” — shrinking to 40 per cent from 45 per cent.“We expect central bankers will sound more dovish in April, thereby setting up a rate-cutting cycle beginning in June,” Mendes said.
Judge said the Bank of Canada will bypass “volatile” items such as gasoline and grocery prices in its analysis of the data to get a “better signal” from the core numbers. “This report is clearly encouraging from the Bank of Canada’s perspective … even though they will likely want to wait to see more evidence of the labour market loosening before pulling the trigger on interest rate cuts in June,” Judge said.Are you interested in buying dividend stocks for passive income in 2024? Here’s one stock I’m buying! The post 1 Dividend Stock I’m Buying for Superior Passive Income in 2024 appeared first on The Motley Fool Canada.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
'Unambiguously good': Inflation slows in February as price growth unexpectedly easesOTTAWA — Canada’s annual inflation rate unexpectedly fell to 2.8 per cent last month, amid sharp declines in cellular and internet services as well as slower grocery price growth.
Read more »
'Unambiguously good': Inflation slows in February as price growth unexpectedly easesCanada's annual inflation rate unexpectedly fell to 2.8 per cent last month, amid sharp declines in cellular and internet services as well as slower grocery price growth.
Read more »
'Unambiguously good': Inflation slows in February as price growth unexpectedly easesOTTAWA — Canada’s annual inflation rate unexpectedly fell to 2.8 per cent last month, amid sharp declines in cellular and internet services as well as slower grocery price growth.
Read more »
February CPI: What to expect on inflation data off jobs reportAs investors eagerly await February's Consumer Price Index (CPI) print on Tuesday, Rockland Trust Chief Investment Officer Dave Smith joins Yahoo Finance...
Read more »
U.S. inflation ticked up in February, driven by higher rent and gas pricesA customer holds a fuel nozzle at a Shell gas station in Hercules, California, U.S., on Wednesday, June 22, 2022. President Joe Biden called on Congress to suspend the federal gasoline tax, a largely symbolic move by an embattled president running out of options to ease pump prices weighing on his party's political prospects.
Read more »