tried to play down fears<\/a> that a short\u2011term flare\u2011up in prices would force the central bank\u2019s hand.<\/p>\n\u201cIt\u2019s certainly going to go up. We are not surprised, and we are not even that worried if we see near-term inflation expectations go up,\u201d he said.<\/p>\n
For now, core inflation \u2013 the Bank\u2019s preferred gauge of underlying pressure \u2013 appeared better behaved. CPI\u2011median held at 2.3%, while CPI\u2011trim edged down to 2.2%, suggesting that the energy shock has\u00a0not yet bled broadly into other prices.\u00a0<\/p>\n
What it means\u00a0for rates and mortgages<\/p>\n
Financial markets still do\u00a0not price in a move at the Bank\u2019s upcoming decision. However, they lean\u00a0toward a 25\u2011basis\u2011point hike in December. That reflects\u00a0concern that sustained energy\u2011driven inflation could eventually push headline CPI above the 2% target midpoint for longer than policymakers would like.<\/p>\n","protected":false},"excerpt":{"rendered":"Statistics Canada described March\u2019s increase as the largest on record for fuel prices.\u00a0Energy\u2019s spike also lifted transportation costs,…\n","protected":false},"author":2,"featured_media":617384,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[52,49,48,148009,51,44],"class_list":{"0":"post-617383","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-canada","8":"tag-bank-of-canada","9":"tag-ca","10":"tag-canada","11":"tag-canada-inflation","12":"tag-cpi","13":"tag-news"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/617383","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/comments?post=617383"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/617383\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media\/617384"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media?parent=617383"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/categories?post=617383"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/tags?post=617383"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}