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Canada Holds Steady: Interest Rate Pause Signals Cautious Confidence

                      The Bank of Canada also held its policy rate at its last scheduled rate announcement in December. The Bank of Canada has opted to keep its key interest rate at 2.25% , a move that underscores a careful balancing act as the country approaches a pivotal moment in North American trade relations. With CUSMA (the Canada‑United States‑Mexico Agreement) negotiations on the horizon, policymakers appear intent on maintaining stability while assessing potential economic turbulence. The decision reflects a mix of optimism and prudence. Inflation has been easing gradually, giving the central bank some breathing room. At the same time, global economic uncertainty and the high stakes of upcoming trade talks mean officials are reluctant to introduce new variables into the financial system. By holding the rate steady, the Bank of Canada signals confidence in the economy’s underlying resilience while acknowledgin...
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Canada’s Annual Inflation Rate Rose to 3.4% in December 2023

 

According to the latest report from Statistics Canada, the annual inflation rate in Canada rose to 3.4% in December 2023. This is an increase from the previous month’s rate of 3.1%.

The rise was expected due to a sharper decline in gasoline prices in December 2023 compared to last month. Grocery prices were up 4.7% from a year ago, matching the pace of increase in November. With December marking the last month of the year, Statistics Canada says the annual average inflation rate for 2023 was 3.9%, down from a 40-year high of 6.8% in 2022.


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