As expected, the Bank of Canada has left the central interest rate alone.
The key rate remains where it has been for some time – 2.25 per cent.
The latest price data showed the annual rate of inflation jumped to 2.8 per cent in April as the energy price shock from conflict in the Middle East has consumers paying more at the pumps this spring.
Gas in metro costs about $1.85 per litre.
Bank of Canada Governor Tiff Macklem expects the Consumer Price Index to hover around 3 per cent for the next several months.
He says the economy is working through a period of structural change.
