August 24, 2018 / 9:05 PM / 2 years ago

Bank of Canada's Poloz says recent inflation jump due to transitory factors

FILE PHOTO: Bank of Canada Governor Stephen Poloz listens to a question during a news conference in Ottawa, Ontario, Canada, July 11, 2018. REUTERS/Chris Wattie/File Photo

TORONTO (Reuters) - Canada’s recent hot inflation data was driven by transitory factors and its core measures are right around a 2 percent target, Bank of Canada Governor Stephen Poloz said on Friday.

In an interview with CNBC at an economic symposium in Jackson Hole, Wyoming, Poloz said the central bank had expected that inflation “would head up towards three percent during these few months. These are transitory factors.”

Reporting by Fergal Smith; Editing by James Dalgleish

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