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Canada CPI, Macklem & PSAC Wage Talks

LOOK AHEAD
  • CPI for March lands 0830ET. Y/Y rates should ease notably on base effects, especially headline seen -0.9pps to 4.3% Y/Y as part of the BoC’s projection for 3% by summer, whilst we watch underlying monthly rates after recent stabilization at circa 3.5% annualized.
  • Text for part one of BoC's Gov Macklem and Senior DG Rogers House/Senate appearances has been revised to 1130ET.
  • PSAC, the largest union of Canadian govt representing more than 155k workers who voted for a strike mandate, has threatened to strike tomorrow if there’s no wage deal reached by 9pm Ottawa time tonight.

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