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Inflation Slides to 2.2%. Rate Cut Odds Barely Flicker

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Note the message for mortgage shoppers below.

Headline inflation came in a shade above Bay Street's collective guesstimate for October, but it's still a welcome step down.

More importantly, the BoC's so-called "preferred indicator," average core inflation, is back below 3%, shaving off 15 bps from September.
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Breaking it down

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