Signs of headline inflation slowing down in Canada should be enough for the country’s central bank to hold off on any further rate hikes, one economist says.
. However, core medium inflation, which excludes volatile items such as gasoline and food prices, remained unchanged at 3.9 per cent on a yearly basis, the figures showed. Since headline inflation is cooling, while core inflation remains sticky, Pedro Antunes, chief economist at the Conference Board of Canada, believes that the Bank of Canada will not raise rates any further -- but will keep them elevated in order for the full effects to be felt throughout the economy.
Balancing public perception and bringing down core inflation will be a challenge for the bank, PIMCO’s managing director and North American economist Tiffany Wilding, told BNN Bloomberg on Tuesday. Today’s data was good for inflation expectation but still revealed that sticker categories aren’t making as much progress as needed, Wilding added. Between now and then, the BoC will have several more data points to make a better informed decision, Wilding noted.
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