"The CPI report is consistent with steady, accommodative policy from the BoC for an extended period," said Ryan Brecht, a senior economist at Action Economics. The price of oil, one of Canada's major exports, slipped for a fourth day as concerns about weaker demand in Europe outweighed an industry report that showed U.S. crude inventories unexpectedly fell last week. Canada's annual inflation rate rose to 1.1% in February from 1.0% in January but below analysts estimates of 1.3%.