Canada’s inflation rate for October jumped to an annualized rate of 2.4 percent prompting some to suggest the Bank of Canada could resume interest rate hikes sooner than expected. A closer look however, shows that higher gasoline and energy prices were largely responsible for the increase and when these volatile items are removed from the calculation, the core rate falls to 1.8 percent.
This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.