Royal Bank of Canada’s economics team estimates that the headline inflation slowed to 4.1 per cent in March, which would be the lowest pace of headline inflation since August 2021. Economists Claire Fan and Nathan Janzen pointed to lower gasoline prices as the main reason price pressures are cooling. They also expect that food inflation, which increased 9.7 per cent year-over-year gain in February, will also begin to ease.
with rates expected to stay higher for longer. That’s because Macklem predicts getting inflation to two per cent from around three per cent will require some effort.Article content A security guard stands outside of the entrance of the Silicon Valley Bank headquarters in Santa Clara, California.Macklem said from Washington that central banks are focused on getting inflation back to target, but that they need to take financial stability into account. Macklem also pointed out some of the lessons central banks and the International Monetary Fund took away from the crisis, including the speed at which deposits fled SVB in the digital age.