Canadian inflation remained
subdued in September as the Consumer Price Index (CPI), which measures the rate
of inflation in Canada, rose just 1.3 per year-over-year. The Bank of
Canada's core measure of inflation, which excludes volatile components like
food and gasoline, rose 1.8 per cent for a second consecutive month. In
BC, provincial consumer price inflation was 1.8 per cent in the 12 months to
September.
Decelerating inflation and a slowing economy had the Bank of Canada discussing, but ultimately deciding against, a rate cut earlier this week. However, it is unlikely that the Bank will act to offset mortgage restrictions introduced by the Federal government unless the outlook for growth inflation becomes dramatically weaker.
Copyright BCREA – Reprinted with permission
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