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Inflation: Lowest in 56 Years at –0.9%

Canadian-Inflation That’s the headline inflation number from today’s CPI report.  Headline inflation is a YOY figure that includes volatile food and energy prices.

On the other hand, core inflation (the Bank of Canada’s key metric), is fairly buoyant at 1.8%.  That’s just shy of the BoC’s 2% target.

Bond yields fell on the news.  The 5-year GOC yield is down to 2.49% at last look–a four week low.  For trader-types, key support is around 2.40%. 

Yields have slowly drifted lower for the last week and a half. That may push some non-bank lenders closer to 4% again on 5-year fixed mortgages.