"I don't think it changes too much about the broader story. It's still a story of there's very soft price pressures. It's still a story of there's a lot of slack in the economy, so I don't think it changes too much about the way we think about the economy.
"From our perspective, price growth is still running below trend, we still have the economy running well below capacity, the unemployment rate is still over 10per cent, so the Bank of Canada's focus isn't going to be on inflation for a while."
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