While the contents of the RBI s letter to the government after it failed in its mandate have not been made public, the central bank has previously said that two years is an appropriate time to lower inflation to four percent. We have perhaps reached the mid-point of that timeline
The B.C. government said the rent cap is 'well below' the 12-month average inflation rate of 5.6 per cent and applies to rent increases on or after Jan. 1, 2024.