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BOC confident inflation will drop by mid year

Darpan News Desk The Canadian Press, 26 Apr, 2023 01:38 PM
  • BOC confident inflation will drop by mid year

The Bank of Canada says it feared being too slow to react to sticky inflation ahead of the decision to keep its key interest rate steady earlier this month. 

In its summary of deliberations, the central bank says it considered raising interest rates from the current 4.5 per cent.

The Bank of Canada appears confident that inflation will fall to three per cent by mid-year. 

But it's concerned that the return to two per cent inflation may take longer as the cost of services remains elevated.

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B.C. prepares for flu and COVID-19 this fall

Young female student randomly attacked in Downtown, hit over the back of the head with a pole

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WATCH: Surrey Mayor announces new swimming pool for North Surrey

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WATCH: Surrey Mayor announces new swimming pool for North Surrey

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