Canada annual inflation rate drops to 1.4pc in October

TORONTO: Canada's annual inflation rate in October decreased to 1.4 percent from 1.6 percent in September, fueled by the transportation and shelter indexes, Statistics Canada said on Friday.

DEREK HOLT, VP & HEAD OF CAPITAL MARKETS ECONOMICS AT SCOTIABANK

"It is very, very, very slightly dovish at the margin. Not so much because of the roughly in line with expectations dip in headline CPI, but because progress towards gently rising core inflation measures stalled out in the month of October.

The average stayed at 1.6 percent."

"I think bigger picture the Bank of Canada has said near term data doesn't matter to them compared to longer-tailed uncertainties."