Canadian inflation falls
The Canadian consumer price index released this afternoon shows the consumer price index fell 0.3% in the one year to June, giving the Canadian central bank greater scope to maintain interest rates at record lows. The figures also show a reduced chance of deflation which is positive news for the Canadian economy.
The falling inflation rates are in common with figures from Europe, the US and UK this week, with falling prices largely driven by the lower cost of energy. Excluding gasoline, consumer prices advanced 2.1%.
Canadian dollar currency rates have risen against the pound, US dollar and euro following the announcement.
The rates quoted above are interbank rates. Client rates may vary according to the volume and timing of the trade.