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)
Copyright (c) 2024 Dow Jones & Company, Inc.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.