Canadian dollar under pressure
The latest data show that consumer prices in Canada have slowed from 3.4% to 2.8% year-over-year.
The latest data show that consumer prices in Canada have slowed from 3.4% to 2.8% year-over-year. Core inflation also dropped from 3.7% to 3.2%. According to strategists at Morgan Stanley, this slowdown in inflation gives the Bank of Canada a reason to halt its rate hike cycle. As a result, the Canadian dollar is under pressure.
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