Canada Economics

Canada Economics Weekly

27 June, 2011

Rising core inflation no reason to hike interest rates

The increase in the headline CPI inflation rate to an eight-year high of 3.7% in May, from 3.3%, and the pick up in the core inflation rate to a seven-month high of 1.8%, from 1.6%, predictably led to claims that the Bank of Canada is “behind the curve” and needs to raise interest rates urgently.

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