Will the Bank of Canada cut interest rates after another inflation dip?

Canada’s annual inflation rate fell to 2.7% in April in a broad-based slowdown from 2.9% the previous month. Statistics Canada’s latest ‘Consumer Price Index’ report is good news for the Bank of Canada, which has been looking for a sustained decline in inflation toward its 2% target. But, is this enough to cut interest rates? While some think this might be the green light for the central bank to start cutting rates next month, others feel we may have to wait until July.