Canada’s annual inflation rate grew more than expected to 2 per cent in October.
Data released today (Tuesday) shows gas prices fell less than last month, likely diluting chances of another large interest rate cut in December.
Analysts had forecast the inflation rate would speed up to 1.9 per cent from 1.6 per cent in September.
It was the first pick up in the rate since June.
The Bank of Canada’s next interest rate announcement comes on December 11th, when money markets still see a good chance of at least a 25 basis point cut.
Written by: L. Dickson
