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October 21, 2011
Canadian Economy Strengthens, Inflation Rate Up
News of the day...
The inflation rate came in at 3.3 per cent for September - higher than Bank of Canada forecast. Removing volatile sectors like energy and food - core inflation stood at 2.2 per cent. It is the first time the core rate has risen above 2 per cent since February 2010.
These numbers probably will not affect the Bank of Canada rate decision next Tuesday. And many economists still expect that the Central Bank will not begin raising the Key Lending Rate until the second half of 2012.
In a world where financial markets and economies are working to pull out of a global downturn, it really is a double-edged sword that the Canadian economy continues to strengthen ahead of the curve.
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