Tuesday, December 6, 2011

Canada Inflation Rate Outlook 2012

World Economic outlook - Canada Inflation Rate Outlook 2012 : Consumer prices advanced 2.9 percent in October from a year earlier, Statistics Canada said Nov. 18, and the central bank predicts inflation will slow to 1 percent by the middle of next year. The central bank sets rates to keep prices advancing in the middle of a 1 percent to 3 percent range.

The bank today said it would “continue to monitor carefully economic and financial developments,” and “set monetary policy consistent with achieving the 2 percent inflation target over the medium term,” repeating language it used in October.

“They are presenting a very balanced view” of growth in North America and risks in Europe, said Dawn Desjardins, assistant chief economist at Royal Bank of Canada in Toronto. “It’s not just doom and gloom from the Bank of Canada’s perspective.”

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