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Limp trade data trump rising inflation at central bank Add to ...

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If there were any doubts before, the Bank of Canada made it crystal clear in its interest rate policy statement Wednesday: It isn’t about to let a fattened inflation rate distract it from its prize. And that prize isn’t nearly within grasp.

The central bank, as universally expected, left its key policy rate unchanged at 1 per cent (where it has sat for nearly four years now). And, again, it signalled that this isn’t going to change any time soon (economists’ best guess is mid-2015), and that rate cuts are still not out of the question.

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