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Canada's Inflation Slows to 2.3%, Rate Cuts Unlikely

2/18/2026

43 5 Full Breakdown

Summary

Story summary

In January 2026, Canada's inflation slowed to 2.3%, with core inflation at 2.5% according to the Royal Bank of Canada (RBC).
The Bank of Canada would have more flexibility to adjust rates.
RBC does not expect further rate cuts.
Scotiabank said the data aligned with expectations, with traders noting a muted market response.

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Story summary

In January 2026, Canada's inflation slowed to 2.3%, with core inflation at 2.5% according to the Royal Bank of Canada (RBC).
The Bank of Canada would have more flexibility to adjust rates.
RBC does not expect further rate cuts.
Scotiabank said the data aligned with expectations, with traders noting a muted market response.