MNI China Daily Summary: Wednesday, July 3

MNI BRIEF:BOJ Q1 Output Gap Hits 16th Negative Reading In Row

MNI: PBOC Sets Yuan Parity Higher At 7.1312 Weds; -0.34% Y/Y

MNI: PBOC Net Drains CNY248 Bln Via OMO Weds; Rates Unchanged

CHINA PBOC CONDUCTS CNY2 BILLION VIA 7-DAY REVERSE REPOS WEDS

CHINA SETS YUAN CENTRAL PARITY AT 7.1312 WEDS VS 7.1291

EZ/UK Bond Supply Calendar: Spain, France Auction on Thursday

PPI a Tenth Softer than Exp; Further NEIG HICP Disinflation to Come?

MNI: EUROZONE MAY PPI -0.2% M/M, -4.2% Y/Y

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Analysts on CAD CPI [2/2]

CANADA
  • National: "A more negative point in this morning's report was the increase in the services category. While this was mainly driven by a jump in the price of shelter, annual inflation in the services excluding shelter category also increased as it went from 1.5% in September to 2.3% Y/Y. Overall, although the rise in services prices in this morning's report is not what the Bank would have liked to see, the overall trend in price pressures remains downward as signs of an economic slowdown persist.”
  • RBC: “Not only were the readings themselves lower among many components, the scope of inflation has also continued to narrow.” “We continue to expect the BoC is done with rate hikes, and for them to cautiously pivot to cuts over the latter half of 2024.”
  • TD: Even more notable progress in the 3m annualized core inflation should add “to the Bank's conviction that policy is tight enough to bring inflation all the way back to target. That could help set up a change in tone from the BoC early next year, but the Bank will still need to see more evidence of easing inflation pressures. This report shifts the balance of risks around the front-end of the CAD curve, as it opens the door to an earlier than expected tone change. This supports owning the front-end on dips, and 2s10s steepeners outright and versus the US. We still see enough asymmetry to sell CAD 10s versus USTs.”
Homepagemarkets-real-timeBulletMarketsFixed Income BulletsForeign Exchange BulletsCanada Bank of Canada Market News

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.