The Bank of Canada is expected to keep interest rates elevated for some time even as the country’s annual inflation rate falls rapidly.
Inflation in Canada dropped to 4.3 percent in March, Statistics Canada said in its latest consumer price index report released Tuesday.
The headline rate eased from 5.2 percent in February as higher mortgage interest costs were offset by lower energy prices.
The country’s annual inflation rate is mostly tracking along the Bank of Canada’s forecast of reaching three percent by mid-year. Its preferred measures of core inflation, which the central bank uses to look through volatility in prices, also trended downward in March….