UPDATE 2-Inflation jumps to Bank of Canada's 2 pct target in April

Fri May 23, 2014 9:10am EDT
 
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* Annual inflation rate highest since April 2012

* Monthly, yearly inflation and core inflation hit forecasts

* Total inflation 2.0 pct yr/yr, 0.3 pct mo/mo

* Core inflation 1.4 pct yr/yr, 0.2 pct mo/mo

* Analysts see rate cut as less likely (Recasts with impact on Bank of Canada policy)

By Randall Palmer

OTTAWA, May 23 (Reuters) - - Canada's annual inflation rate rose to the central bank's 2 percent target in April for the first time in two years, Statistics Canada said on Friday, further dampening talk of a cut in interest rates.

The jump from 1.5 percent in March was exactly as expected in a Reuters survey of analysts, as was the 0.3 percent monthly rise in prices from March.

  Continued...