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  • STOREYS Daily - Jan 17 '23

STOREYS Daily - Jan 17 '23

 "At a time when grocery bills and mortgage payments are denting wallets like no other time in recent memory, the inflation rate is – naturally – on the minds of countless Canadians. Although there is room for some optimism with December’s slight (key word) 0.5% inflation rate drop, the reality remains that most of us (and our bank accounts) aren’t out of the woods yet." 

Erin Nicole Davis, STOREYS Staff Writer

Canada’s inflation rate hit a 40-year high water mark in 2022.

And now the country waits to see whether or not last year was the peak, or the start of something truly historic. While inflation has been dropping (slowly) since the summer, the moment to watch out for is the Bank of Canada’s next interest rate announcement on January 25… when yet another hike is expected.

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