Inflation in Canada running hotter than expected in February, putting pressure on the Bank of Canada’s rate reduction cycle.
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The TSX opened up adding over 230 points and the Dow Jones Industrial Average added over 350 points to start the second trading day of the week.
Inflation in Canada running hotter than expected in February, putting pressure on the Bank of Canada’s rate reduction cycle. The annual rate of inflation accelerated to 2.6 per cent in as the federal government’s temporary Holiday tax break came to an end February 15th. StatCan calculations show that, without the tax break in place for half a month, inflation would have come in at three per cent in February.
Calgary-based international fuel distributor and convenience retailer, Parkland answered the call to add new Board Directors. The company has appointed Felipe Bayon and Sue Gove as independent directors.
Currencies Update: (Futures)
In currencies today, the Canadian dollar is up against the greenback, trading at 70 cents U.S. Bitcoin dropped over C$1100 from its price.
Commodities: (Futures)
Natural Gas: Down (0.20%), 4.00
WTI: Up (1.39%), 68.53
Gold: Up (0.96%), 3027.98
Copper: Up (1.21%) 4.99
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