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Canada's annual inflation rate eased more than expected to 5.9% in January, while month-over-month CPI rose 0.5%, below forecasts. The Canadian dollar dipped about a quarter cent to near 74 U.S. cents, and markets reduced bets on another Bank of Canada rate hike.
Softer inflation lowers the likelihood of further Bank of Canada tightening, which tends to weigh on the loonie and slightly support Canadian export competitiveness. The impact on feed commodity prices is limited.
theglobeandmail.comDarcy KeithFeb 21, 2023Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
