Fresh inflation data is expected out of Statistics Canada today.

A Reuters poll predicted a drop in February’s annual inflation rate to 1.9 per cent from 2.3 per cent in January.

The inflation data will factor into the Bank of Canada’s interest rate decision set for Wednesday.

The central bank held its key rate at 2.25 per cent last month.

On Friday, Statistics Canada said the economy shed 84,000 jobs in February, driving the unemployment rate up two-tenths of a point to 6.7 per cent.

CIBC senior economist Katherine Judge called it a “bad report on almost every single measure” though she notes the labour market softness should offset inflationary pressures from the oil price spike driven by the Mideast War.

This report by The Canadian Press was first published March 16, 2026.