The Bank of Canada will be scrutinizing May inflation figures this week as it gauges whether it can deliver back-to-back interest rate cuts. Statistics Canada is set to release the annual inflation rate for May on Tuesday. Inflation has consistently shown signs of cooling this year, last coming in at 2.7 per cent in April. Those easing price pressures have allowed the Bank of Canada to make a major shift in monetary policy, cutting its benchmark interest rate by a quarter of a percentage point earlier this month. The central bank uses its key interest rate to set the cost of borrowing broadly in Canada, easing or ... (full story)