As expected, Canada's most-watched inflation measure hit the brakes hard, mainly because gas prices did too. Removal of the carbon tax and falling oil prices pulled CPI growth well below target.
Core inflation is a whole different story. Strip away the volatile stuff, and underlying inflation grew more concerning. The Bank of Canada is about as pleased with these numbers as a central banker who just spilled coffee on their freshly ironed forecasts.
Let's dissect how these numerical contradictions could impact mortgage rates:
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