UPDATE 2-Canada's inflation benign, quick rate hikes unlikely

Newswire

(Adds details and comments) OTTAWA, March 23 (Reuters) - Canada's annual inflation rate rose to 2.1 percent in February from 2.0 percent in January, meeting market expectations and cementing the idea that the Bank of Canada will not rush to raise interest rates. Statistics Canada said on Wednesday that the year-on-year increase in consumer prices was due mainly to higher gasoline prices. The Bank of Canada, which targets inflation at the mid-point of a range of 1 to 3 percent, next ...

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