Tuesday is the last inflation data before the Bank of Canada’s next rate decision on July 12.
The annual rate of inflation fell in May, largely due to lower oil and gas prices, Statistics Canada said Tuesday morning.
“Lower energy prices explain most of that slowdown,” wrote RBC economists Nathan Janzen and Claire Fan in a note ahead of the release. Last March, the Bank of Canada began an aggressive rate-hike campaign in a bid to drive inflation down, pushing its key overnight rate to 4.5 per cent from 0.25 per cent.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Statistics Canada to release May inflation reading today - BNN BloombergStatistics Canada is set to release its inflation reading for May this morning.
Read more »
Inflation slows to 3.4% in MayCanada\u0027s rate of inflation slowed in May to 3.4%, Statistics Canada said. Find out more.
Read more »
Canada Soccer may need to explore bankruptcy as financial struggles mountJohn Herdman encouraged Canada Soccer to 'find solutions' as the organization admitted to having serious financial issues on Monday.
Read more »
This is what economists are expecting from Tuesday's inflation report - BNN BloombergEconomists anticipate inflation cooling in May following an unexpected increase the previous month.
Read more »
Is Canada winning its inflation battle? Numbers for May expected Tuesday morningTuesday is the last inflation data before the Bank of Canada’s next rate decision on July 12.
Read more »
Critical cyberattacks are an ‘hourly’ event. How can Canadians protect themselves? - National | Globalnews.caCanada's cybersecurity agency is warning that Russian-aligned hackers may seek to disrupt Canada's oil and natural gas sector and other critical infrastructure.
Read more »