Breaking News: Bank of Canada closer to inflation target, rate cuts than it thinks
Breadcrumb Trail LinksNewsClear path to 2% inflation seen in third quarter instead of next yearPublished Feb 23, 2024 • Last updated 22 hours ago • 5 minute read Inflation in January cooled more than expected to 2.9 per cent year over year. Photo by GettyArticle contentCooler-than-expected inflation numbers have left one strategist even more skeptical of the Bank of Canada‘s conservative forecast for when the consumer price index will return to target, suggesting the door to interest rate cuts could open much sooner than the central bank has predicted.Article contentThe Bank of Canada said in its January Monetary Policy Report that it doesn’t expect the consumer price index to come close to its two per cent target until 2025. But Taylor Schleich, a rates strategist at National Bank o...