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Market UpdateNews 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.

News Release - Calgary 2012
October 14, 2011 (Calgary, AB) – Mayor Naheed Nenshi today thanked Canadian Heritage Minister James Moore for naming Calgary a 2012 Cultural Capital of Canada.
"This is an honour of Calgary that recognizes the importance of our arts and cultural sector," said Mayor Naheed Nenshi. "Calgarians take great pride in our support for the arts and culture, and we can use 2012 as an opportunity to share that pride with all Canadians while helping our cultural industry to grow even more."
The designation and support from Canadian Heritage will augment the $2 million commitment to Calgary 2012 made by Calgary City Council in April of this year. Today's designation will enhance the celebrations and investment programs planned by Calgary 2012 which include the recently announced granting programs and grassroots engagement activities.
Elements of the celebration outlined in Calgary's bid include an artist in residence program, a national and...
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