BNN Bloomberg interviews Stephen Brown, deputy chief North America economist at Capital Economics about the Canadian Consumer Price Index. He says as the Bank pays more attention to those core measures than the CPI excluding food and energy, those larger increases mean the Bank is likely to maintain a hawkish tone at its meeting next week and that there is little chance of it cutting interest rates in March as we previously thought. Even April now feels like a stretch given that there are just two more CPI reports before that meeting, although the Bank’s thinking may change if the economy and labour market continue to weaken as we expect, particularly given that the strength in inflation is still being driven mainly by the shelter components.