The Bank of Canada will release the interest rate on October 24 at 17:00 MT time.
Canada annual inflation declines in December
In December, Canada's annual inflation rate went down as anticipated because higher food costs were compensated by a sag in gasoline prices, although underlying inflation kept soaring, as data from Statistics Canada revealed on Friday.
The previous month the annual inflation rate accounted for 1.9%, sliding from November’s outcome of 2.1% and meeting experts’ expectations. It left inflation a bit below the major bank’s 2% objective.
However, two out of three of the key financial institution’s measures of core inflation rallied, including CPI common that soared from 1.5% to 1.6%. The major bank ascertains it’s the best indicator of the economy's underperformance.
As for food prices, they rallied 2% from 2016 because customers paid more for food bought at stores, especially fresh vegetables.
The cost of gasoline decreased, with prices adding 12.2% following the previous month's annual 19.6% ascend.
Get the main trade ideas from today's hot topics and more clues on GBP/USD, EUR/USD and USD/JPY trading!
What this week will bring to us? The rate statements from the central banks of Canada and Eurozone, the US data, details on the Italian budget problem and even more!
Safe havens such as gold and Japanese yen declined as investors sentiment was boosted by eased geopolitical tensions…
On Tuesday, the euro tacked on because market participants waited for reports on inflation and growth in the euro zone, while the Japanese yen went down after Japan’s major bank told it would be more flexible in its huge stimulus program…
On Tuesday, the evergreen buck dived because the common currency bounced off and the UK pound managed to ascend to the day’s maximums reacting to reports that British Prime Minister Theresa May is going to take control of Brexit talks…