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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.
CANADA DATA
- The BoC said last week that “We are seeing what we need to see, but we need to see it for longer”, and it certainly saw that again in today’s latest CPI data for March.
- The average of the trim and median at 2.95% Y/Y (cons 3.1) marked the first Y/Y dip into the 1-3% target band since Oct’21.
- As above, the three-month rate slowed from 2.3% to 1.3% ar (cons would have been closer to 1.5) and the six-month rate took another step to 2.3% ar (-0.2pps). The latter ended last year at 3.6%.
- Other metrics of note: CPIxFE at 1.9% over 3-mths and 2.7% over 6-mths, CPIX at just 0.8% over 3-mths and 1.6% over 6-mths.
- Macklem and the Budget are still to come today, but should they pass without too many surprises this release could continue to pave the way for greater cut confidence. However, we still have another CPI report for April due before the June 5 meeting.
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.
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