BoC may have to hold interest rates due to January inflation numbers

With gasoline prices up in January, and year over year price increases in seven of the eight major categories, it was a surprise to see inflation numbers drop in January. Overall consumer prices rose by .03% in January while inflation actually dropped .10 of a point to 2.3%

There is expectation, with the Bank of Canada’s next rate announcement coming on March 1st, that inflation will not be a cause for reactionary concern, making it harder for the BoC to raise the overnight rate.

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