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The Globe and Mail is reporting today that the rate of inflation has fallen to 1.4% in May.

Annualized inflation dipped four-tenths of a point to 1.4 per cent last month, and the central bank’s core index slipped one notch to 1.8 per cent, well below the bank’s preferred target of two per cent.

This may cause Bank of Canada’s Mark Carney to pause with his second interest rate hike on the Bank of Canada’s next interest rate announcement on July 20th.