Canada’s inflation rate slows to a three-year low

The national inflation rate grew by only 2.7 percent, year over year, in April, StatCan reported yesterday. That lowering of consumer prices, following a 2.9 percent increase in March, spurs hopes of an interest rate cut at the central bank, the Bank of Canada, at its next rate decision on June 5. But a cut to interest rates is not guaranteed. After all, the central bank has set a target of 2.0 percent for inflation.