Canada's Inflation Slows, Rate Decision Looms
This is a Canada news story, published by financialpost, that relates primarily to Statistics Canada news.
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Business & Economics
Bank of Canada's job 'far from done': What economists are saying about today's inflation data
78% Informative
Canada ’s consumer price index rose 1.8 per cent in December from the year before , less than the 1.9 per cent increase expected by economists.
Statistics Canada said the federal government's GST/HST tax holiday on certain goods, including food at restaurants and alcoholic drinks, contributed to slower inflation growth in the month .
The Bank of Canada has previously said it sets aside temporary effects on inflation, such as the current tax holiday .
Scotiabank: 80 per cent bet markets have on a rate cut next week .
Core inflation measures are well above the Bank of Canada's two per cent target.
U.S. tariffs and Canadian retaliation will also add pressure on prices, Derek Holt says.
“I wouldn’t cut at this point while leaving all options open going forward,” he says.