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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Canada's inflation cools to 3-yr low of 2.7%, in boost for rate cut bets
Canada's annual inflation rate slowed to a three-year low of 2.7% in April, matching expectations, and core measures continued to ease, data showed on Tuesday, likely boosting chances of a June interest rate cut.
·United Kingdom
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Leaning Left8Leaning Right5Center6Last UpdatedBias Distribution42% Left
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42% Left
L 42%
C 32%
R 26%
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