WRAPUP-Weaker-than-expected Canada inflation disappoints markets, C$ falls [Reuters]
Bank Nova Scotia Halifax Pfd 3 Ordinary Shares (BNS)
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Source: Reuters
WRAPUP-Weaker-than-expected Canada inflation disappoints markets, C$ falls | Reuters 3 Min Read OTTAWA, April 20 (Reuters) - Canada’s annual inflation rate strengthened by less than expected in March and February retail sales showed signs of weakness, disappointing markets and helping to push down the Canadian dollar. Statistics Canada said on Friday the annual rate had edged up to 2.3 percent from 2.2 percent in February, the second straight month it exceeded the central bank’s 2.0 percent target. Still, the rate was slightly less than the 2.4 percent forecast of analysts polled by Reuters. The Bank of Canada has raised interest rates three times since July 2017 amid a strengthening economy and near record low unemployment, and markets largely expect a hike by this July. “I think for both these reports today they’re just a wee bit short of expectations ... it sort of added to the underlying softness we’ve seen in the currency since about the middle of the week,” said Doug Porter, chi
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