0910 ET - Despite the hotter-than-expected CPI report for Canada, there are signs of encouragement on the inflation front for Bank of Canada policymakers. Inflation rose 2% in October, or an acceleration from the prior month's 1.6% reading. The BOC cut its policy rate by a half point in October to help keep inflation near 2%. The report, however, is unlikely to dissuade BOC policymakers from pressing on with rate cuts for two reasons: services CPI decelerates in October, to 3.6%, or the smallest 12-month increase in nearly 3 years; and shelter price growth continues to ease, up 4.8% in October from the prior month's 5% reading. (paul.vieira@wsj.com; @paulvieira)
(END) Dow Jones Newswires
November 19, 2024 09:10 ET (14:10 GMT)
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