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Swings in inflation not ‘unusual,’ but underlying price pressures still high: BoC

  • According to deputy governor Sharon Kozicki, the recent ups and downs in the inflation rate are not unusual, and measures of core inflation show that underlying inflation has not eased significantly.
  • Economists predict bad news for the central bank as the latest inflation report indicates a climb in inflation for the second consecutive month, but despite this, it is expected that the Bank of Canada will continue holding rates steady.
  • The Bank of Canada holds its key interest rate steady after data shows a contraction in the economy in the second quarter, but the possibility of more rate hikes remains open.
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WTVB broke the news in on Tuesday, September 19, 2023.
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