Experts still expect the Bank of Canada to increase interest rates again next week, even though inflation is slowing.
Statistics Canada’s latest cost of living report, released yesterday (Tuesday), shows prices rose by 6.3 percent in December.
That’s an improvement over last summer’s high of 8.1 percent.
But food prices are still up ten percent over the past year, and mortgage rates continue to increase.
The trend-setting central bank rate is expected to rise by another quarter point next Wednesday, (Jan 25) to 4.5 percent, the highest since 2007.
–with files from Vista Radio newswire
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