Canada's annual inflation rate slipped to a relatively tame 2.3 percent in January, bucking a trend which has seen several major nations struggle to keep rising prices under control.
Throw into the mix the current strength of the loonie and it doesn't look like the BOC has any real justification for increasing rates anytime soon.
The Toronto stock market was closed Monday for Ontario’s Family Day while New York markets were closed for the Presidents Day holiday. Here’s what happened Friday:
* TSX -13.04 to 14,123.11 as geopolitical concerns and mining stocks continued to decline amid a sharp drop in the price of copper this week.
* DOW +73.11 to 12,391.25
* Dollar -.11c to 101.42c USD as Statistics Canada reported month-to-month inflation rose 0.3 per cent in January over December, due in part to sharply rising gasoline prices.
* Oil -$.16 to $86.20 USD per barrel.
* Gold +$3.50 to $1388.60 per ounce.
* Canadian 5 yr bond yields markets up another -.03bps to 2.74. The spread (based on the NEW MERIX 5 yr rate published rate of 4.14%) is now mid comfort zone at 1.40.
