Despite inflation slowing in December, Bank of Canada still expected to hike rates - Terrace Standard

Despite inflation slowing in December, Bank of Canada still expected to hike rates

Canada’s annual inflation rate slowed last month but economists are still expecting the Bank of Canada to hike its key interest rate next week.

CIBC’s executive director of economics Karyne Charbonneau said people shouldn’t expect December’s inflation report to stop the Bank of Canada from raising interest rates. Grocery prices were up 11 per cent in December on an annual basis, a slight improvement from 11.4 per cent in November, Statistics Canada said.

“While the direction of inflation is at least mildly encouraging, there’s nothing in this report to keep the Bank of Canada from hiking rates another 25 at next week’s policy meeting,” Reitzes said.

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TerraceStandard /  🏆 24. in CA

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