Inflation Roulette: CPI Defies the Odds But Rate Cuts Still on the Table

Rate cut optimism took a temporary detour today as inflation decided to stick it to economists. Instead of falling to 2.9% as Bay Street's number crunchers expected, it parked itself stubbornly at 3.1%.

The average core inflation reading was 3.45%, also refusing to budge from last month's (revised) number.

But not all hope is lost. Here's why the mortgage rate glass is still half full:

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