'Unambiguously good news': What economists say about February's inflation surprise [Financial Post (Toronto, Ontario, Canada)]
Canadian Imperial Bank of Commerce (CM)
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Source: Financial Post
Canada's inflation numbers for February flummoxed analysts again, slowing to 2.8 per cent year over year instead of rebounding to 3.1 per cent as most analysts predicted. In January, the headline number for the consumer price index (CPI) came in at 2.9 per cent, also lower than analysts expected. Article content Here's what economists think February's surprise fall could mean for the Bank of Canada and interest rate cuts. Article content April cut ‘unlikely': Capital Economics The Bank of Canada's preferred measures of inflation fell below the three per cent target for the first time since April 2021, Stephen Brown, deputy chief North America economist for Capital Economics Ltd., said in a note. CPI-trim and CPI-median slowed to 2.9 per cent on a three-month annualized basis, falling within the central bank's inflation target range of one per cent to three per cent. “While the data support our view that inflation will fall to two per cent sooner than the bank anticipa
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