Canada’s CPI now over the Bank of Canada’s target inflation rate.
Today’s Consumer Price Index exceeded not only expectations, but also the Bank of Canada’s 2% target rate. The jump was primarily due to higher gas prices, but combined with the growth in retail sales, the BoC is now in a position to re-examine rate hikes. It’s biggest concern is household debt, and it’s looking at ways to contain it.
USDCAD 1.2700, 1.2688, 1.2675 1.2730, 1.2740, 1.2765