Annual inflation rate up in March as gasoline prices rose, but core measures lower [BNN Bloomberg (Canada)]
Toronto Dominion Bank (The) (TD)
Last toronto dominion bank (the) earnings: 2/27 06:30 am
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Source: BNN Bloomberg
Statistics Canada said Tuesday its consumer price index for March was up 2.9 per cent compared with a year ago, up from a 2.8 per cent year-over-year increase in February. The increase came as gasoline prices rose 4.5 per cent compared with a year earlier, helped higher by an increase in global oil prices. Excluding gasoline, Statistics Canada said the overall annual inflation rate for March was 2.8 per cent, down from 2.9 per cent in February. The Bank of Canada's three core measures for inflation for March also all moved lower compared with February. Leslie Preston, a managing director and senior economist at TD Bank, said she continues to expect the Bank of Canada to cut interest rates in July, but added that the latest data does raise the chances it might move in June. "We are seeing a very encouraging cooling in core inflation pressures," Preston said. "So we've seen three good months now, but you know the governor will likely want to see a bit more, whether that's one
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