Bank of Canada Deputy Governor Toni Gravelle comments on February's 2.8% inflation, lowest in eight months, while emphasizing the use of broader data before the next rate announcement on April 10.

Bank of Canada Deputy Governor Toni Gravelle said February's inflation figures were "very encouraging," as consumer prices cooled to 2.8% - the lowest in eight months. While noting the positive trend, Gravelle emphasized that the central bank would consider a broader set of data before their next interest rate announcement on April 10. The bank recently raised rates to a 22-year high of 5% to curb inflation above its 2% target.