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Royal Bank of Canada
Symbol RY
Shares Issued 1,441,532,106
Close 2014-09-12 C$ 82.16
Market Cap C$ 118,436,277,829
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Globe says Big Five banks await "core" inflation report

2014-09-15 07:07 ET - In the News

See In the News (C-CM) Canadian Imperial Bank of Commerce

The Globe and Mail reports in its Monday edition that economists expect Canada's "core" inflation rate to resume its climb when the latest report arrives this week. The Globe's David Parkinson writes the jury will likely remain out on whether consumer prices have yet embarked on a sustainable upward march. Expectations are for Statistics Canada's consumer price index report, to be released Friday, to show the core measure increased to 1.8 per cent over the year in August, resuming its rise after easing to 1.7 per cent in July. Prior to July, core CPI had risen in six of seven months, from just 1.1 per cent last November to 1.8 per cent in June. However, total CPI inflation, which saw an even more rapid rise (from just 0.7 per cent last October to 2.4 per cent in June) before taking a step back in July, is expected to hold steady at 2.1 per cent in August, due largely to declines in gas prices. CIBC economist Nick Exarhos says, "Some of the transitory factors highlighted by the Bank of Canada as culprits in inflation's rapid gains earlier in the year have abated, but better growth and weak readings from a year ago have prevented inflation from dropping off meaningfully."

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