The Bank of Canada announced on January 24, that it will keep it's policy rate at 5%, but is still keeping an eye on inflation and is ready to adjust the rate as it sees fit. The broad-based nature of inflation, particularly in goods excluding food and energy, food inflation, and services excluding shelter, is challenging a return to the bank's desired target of 2% . The core inflation measures lingering between 3.5% and 4%.
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