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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
- Excess demand/supply: Excess supply seen returning 4Q23 and throughout most of 2024 (having been pushed back six months to early 2024 in July MPR).
- Return to 2% inflation target: statement only says in 2025 (explicitly stated mid-2025 in July MPR) although the chart 18 in the MPR only looks like it technically hits 2% in end-2025, albeit getting close in mid-2025 (see image below).
- The main surprise in the forecast was end-2024 CPI pushed up to 2.5%. Otherwise the forecasts themselves were mostly as expected, with stronger inflation and softer GDP growth in the near-term.
- CPI inflation: end 2023 at 3.3% (cons 3.2, MPR 2.9), end 2024 at 2.5% (cons 2.1, MPR 2.2)
- GDP growth: end 2023 1.0% (cons 0.8, MPR 1.8), end 2024 1.3% (cons 1.4, MPR 1.5)
Source: Bloomberg
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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