Inflation expected to rise slightly

This is a news story, published by torontosun, that relates primarily to The Bank of Canada news.

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torontosun

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October inflation expected to show mild bump up despite longer-term downward trend

Summary

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87% Informative

Consumer price index expected to rise to 1.9 per cent for October from 1.6 per cent in September .

That was the lowest inflation reading since February 2021 .

The Bank of Canada lowered its key rate by half a percentage point in October to 3.75 per cent .

The softening of the labour market is expected to help reduce pressure on inflation.

“Given how weak current conditions are, and given the fact that even if you cut rates today , it won’t help with things until probably at least a couple quarters down the road, they really want to front load any amount of easing,” said Fan. “If they think the economy needs the support, they want to do it as quickly as possible.” - LILLEY: Falling loonie and weak economy hurting average Canadians - Gold suddenly not so glittery after Trump ’s White House victory.

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semi-formal

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English

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not offensive

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not hateful