 On 15 July, the Bank lowered the overnight rate target to 1/2 per cent.  Total CPI inflation in Canada has been around 1 per cent; core inflation has been close to 2 per cent.  Global growth faltered in early 2015. It is expected to strengthen over the second half of 2015, averaging about 3 per cent for the year, and accelerate to around 3 1/2 per cent in 2016 and 2017.  The projection for growth in Canada in 2015 has been marked down, with real GDP estimated to have contracted modestly in the first half of the year. Growth in Canada is projected to resume in the third quarter and begin to exceed potential ... (full story)