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Mexico raises key interest rate to 7 pct to combat inflation
24 June 2017, 12:06 | Nichole Osborne
Last week's comments from Bank of Canada officials, including governor Stephen Poloz, signalled the central bank might be ready to hike the benchmark rate as early as July.
In its report Friday, Statistics Canada said year-over-year gas prices rose 6.8 per cent in May after climbing 15.9 per cent the previous month.
The level reached in the reference rate is congruent with the process of efficient convergence of inflation toward the 3 percent objective, the central bank said in a statement.
However, a continuation of above-trend economic growth should lower slack and help turn inflation higher in the second half of this year, permitting the central bank to hike the overnight rate in October, added TD Economics.
In its monthly Consumer Price Index report released today, the federal agency said Manitoba had the fourth lowest annual inflation rate in country in May, at 1.0 per cent. May's increase was below market expectations for a 1.5% gain, according to economists at Royal Bank of Canada.
Gasoline prices fell 4.0% on the month and this was the main contributory to a 0.7% decline in transport costs for the month which held the annual rate at 2.2%.
The annual inflation rate cooled to 1.3 percent in May, below forecasts for 1.5 percent, pushing it further away from the Bank of Canada's 2 percent target as the cost of food fell and gasoline prices moderated, data from Statistics Canada showed.
Ontario had promised to cut electricity bills by an average of 17 per cent and the reductions were scheduled to start taking effect in May.
"We don't see this run as changing the broader narrative of a generally improving Canadian outlook which needs less monetary accommodation, although it does suggest that July is too soon for the Bank of Canada to raise interest rates", said CIBC economist Nick Exarhos. The drop in May was smaller than the previous month's 1.1% decline, and prices for fresh vegetables rose for the first time in almost a year.
Trump confirms he's under investigation, fires angry tweets
Rosenstein has been overseeing the Russian Federation probe since shortly after Attorney General Jeff Sessions recused himself. She said that "the president has embarked on an effort to undermine anyone with the ability to bring any misdeeds to light".
Amit Shah Says No Bilateral Cricket Series With Pakistan
Only last week, the Sena claimed that it could take an independent line on presidential elections , creating a flutter in the BJP. Raote said that he met Revenue Minister Chandrakant Patil in this regard and will also meet chief minister Fadnavis.
London fire: Blaze engulfs apartment block in West London
The service reported a major incident was declared in the west London after a fire broke out in the early hours of the morning. The city's fire chief Dany Cotton says there is no threat of the building collapsing. "The whole building is just crumbling".
Wind howling as final round at Erin Hills gets under way
Additionally, Harman is a left-handed golfer. "Sometimes you just have to play them (majors) until you get really comfortable". Open on Sunday. "No he didn't did he?" "I'm just going to try and enjoy the moment as much as I can and stick to my gameplan".
Memorial for murdered Muslim teen set on fire in Dupont Circle
Hassanen's murder did not occur in isolation, however, says Arsalan Iftikhar, a human rights lawyer who prays at the ADAMS mosque. Virginia law, in part, defines a hate crime as any illegal act motivated by a person's race, religion or nationality.
Google gets in on the job-search game
On its Webmaster Central Blog , Google posted instructions for how to get job postings included in the new Google Search feature. Google launched its new search job search engine that showcases job opportunities listed on major job board sites in one place.