Inflation Hits Lowest Level Since August 2021, but BoC Not Expected to Back Off Yet

Signage mark the Statistics Canada offices in Ottawa on July 21, 2010. Sean Kilpatrick / The Canadian Press

The Bank of Canada is expected to keep interest rates elevated for some time even as the country’s annual inflation rate falls rapidly.

Inflation in Canada dropped to 4.3 percent in March, Statistics Canada said in its latest consumer price index report released Tuesday.