Recent data indicate inflation is easing
The inflation reading is the last before the Bank of Canada's next interest rate decision
The Fed likely won’t wait until inflation reaches its 2% target before cutting rates, Powell tells House panel
Investors have put the likelihood of a Fed rate cut in September at about 76%, according to CME FedWatch
While there was concern progress could stall, consensus was inflation would continue downward momentum
Fourth straight weekly drop for the rate, which a year ago averaged 6.58%
Most economists say they think the central bank is done raising rates
The unemployment rate has scarcely budged since the Fed began a series of 11 rate hikes
Growth is expected to stay tepid
The CRA's interest rate on overdue tax will remain the same for a third consecutive quarter