Inflation in Canada Eases to 1.8% on Sales Tax Break
- Canada's annual inflation rate decreased to 1.8% in December, aided by a sales tax break, according to Statistics Canada.
- Prices for alcoholic beverages from stores fell by 1.3% in December, while restaurant food prices dropped by 1.6%, compared to previous increases.
- The Bank of Canada has reduced its key policy rate by 175 basis points to 3.25% due to consistent easing of prices since August.
- Currency markets predict an 83% chance of a 25 basis point rate cut on January 29, as the Canadian dollar weakened by 0.90% against the U.S. Dollar.
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Coverage Details
Total News Sources0
Leaning Left19Leaning Right5Center6Last UpdatedBias Distribution63% Left
Bias Distribution
- 63% of the sources lean Left
63% Left
L 63%
C 20%
R 17%
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