Annual Inflation Rate Holds Steady in Canada at 2.2%. BOC Leaves Interest Rates Unchanged.

Statistics Canada is reporting that Canada’s annual inflation rate held steady, at 2.2% in December. Maintained by higher energy prices and balanced out by lower cost for food and vehicles. As a result, the Bank of Canada has left interest rates unchanged, but left the door open for future rate cuts should a recent slowdown in domestic growth continue.