Inflation hits 8-year high, pressures Bank of Canada | Business | Reuters
Just a little proof that Canada is not in such a great position economically.
Canadian inflation rose to its highest level in more than eight years in May, boosting the Canadian dollar and raising the prospect the central bank will raise interest rates sooner than previously expected. Annual inflation hit 3.7 percent, well above expectations and far above the Bank of Canada's 2.0 percent target, according to Statistics Canada data on Wednesday.
Just a little proof that Canada is not in such a great position economically.
Canadian inflation rose to its highest level in more than eight years in May, boosting the Canadian dollar and raising the prospect the central bank will raise interest rates sooner than previously expected. Annual inflation hit 3.7 percent, well above expectations and far above the Bank of Canada's 2.0 percent target, according to Statistics Canada data on Wednesday.
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