The annual rate of inflation slowed sharply in September, falling below the Bank of Canada’s two per cent target, Statistics Canada reported Tuesday.
Annual inflation was 1.6 per cent in the month, down from two per cent in August, thanks largely to continually lower gasoline prices, the agency said.
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The Bank of Canada has been lowering its benchmark interest rate in recent months as its focus shifts increasingly towards fears that inflation will dip too far below its two per cent target.
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