MID-DAY: Stats Can reports a drop in Canadian inflation, but core inflation has grown
Experts say investor fears about inflation in the US seem to be nominal at this point after policy makers said adding a fourth interest rate hike wouldn’t benefit the economy. Traders are expecting another hike after US Federal Reserve members meet again.
The TSX is up 42 points to 15,550 and the Dow has gained 123 points to 25,086.
High production of oil in the US is once again hampering the price of crude. It’s up slightly by 0.56 to 63.33 a barrel.
The Loonie is slightly gaining up to 78.88 cents US.
Canadian inflation has cooled off a bit, but more interest rate hikes are likely still in the future. Stats Can reported the rate went down to 1.7 per cent last month from 1.9 in December. But, the core rate measuring consumer products like gasoline went up to 1.8 per cent.