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CA Joins US At Top Of $-Bloc Easing Table

STIR

espite BoC officials signalling in the March Minutes that they were likely to be on hold unless inflation veered away from a projection for CPI to slow to about 3% by mid-year and back to the 2% target in 2024, CA STIR has continued to price in additional bp of easing by year-end.

  • Indeed, with 93bp of easing priced by year-end CA STIR has joined the US at the top of the $-Bloc table, with AU & NZ the clear laggards.

Figure 1: $-Bloc STIR: Terminal Rate Expectations & Year-End Pricing



Source: MNI – Market News / Bloomberg

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