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Canadian & Global News

Easing inflation points to gradual interest rate hikes

July 23, 2010
The Toronto Star

Moderating energy prices and lower than expected core inflation will likely result in a gradual approach to interest rates hikes from Canada’s central bank, according to a top economist with RBC Economics.

Statistics Canada reported that Canada’s inflation rate fell to 1 per cent in the 12 months to June, compared to 1.4 per cent reported in May, according the latest Consumer Price Index. The central bank’s core rate edged down to 1.7 per cent in the 12 months to June, with a 0.1 per cent decrease reported from the same 12 month period reported in May, according to the report.

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