What Canada’s slow inflation could mean for interest rates

(Graham Hughes/CP)

Statistics Canada’s Consumer Price Index rose one per cent in June from a year earlier, as cheaper gasoline allowed Canadians to stretch their paycheques, the agency reported July 21. Alternative measures of inflation that adjust for the more volatile components of the price basket, such as gasoline, were moderately higher than the headline number.

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When the Bank of Canada raised interest rates on July 12, Governor Stephen Poloz said the timing of the...

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