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Published 1 month ago

Canada's inflation cools to 3-yr low of 2.7%, in boost for rate cut bets

  • Canada's annual inflation rate decreased to 2.7% in April, leading to expectations of an interest rate cut next month.
  • The decline in March's 2.9% rate was driven by lower food prices, services, and durable goods, according to Statistics Canada.
  • The Bank of Canada, aiming for 2% inflation, sees the report as positive for anticipating a sustained drop in inflation.
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