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The Pound Canadian Dollar (GBP/CAD) exchange rate trended steadily higher last week, rising by more than a full percentage point as the Pound (GBP) was buoyed by waning bets for an imminent interest rate cut.
The inflation reading gives some economists more confidence that the Bank of Canada will cut its benchmark interest rate next month.
Breaking News, Sports, Manitoba, Canada
More progress made on consumer prices but timing of cuts still seen as toss up
OTTAWA - Canada’s annual inflation rate fell to 2.7 per cent in April amid a broad-based slowdown in price growth, boosting expectations of an interest rate cut next month.