James Smith, developed markets economist at ING, points out that the Canadian inflation picked up significantly in March, rising from 1.5% to 1.9% in annual terms, driven primarily by the ongoing rebound in energy prices.
“Gasoline prices rose 12% in February - the most substantial one-month gain since 2007. Throw in the fact that two out of the Bank of Canada's three core inflation measures rose back up to (or above) 2%, and overall, price pressures appear to be growing a little quicker than we had previously anticipated.”
“Despite the slightly better news on inflation, the deterioration in the economic outlook means a Bank of Canada hike this year isn't guaranteed.”
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.