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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
- Released Jan 16 at 0830ET, consensus sees headline CPI accelerating three tenths to 3.4% Y/Y in Dec after two months at 3.1%, with energy-related base effects playing a role.
- The BoC’s preferred core inflation meanwhile is seen edging a tenth lower to 3.35% Y/Y after surprising higher with no change in November.
- Focus should continue to remain on higher frequency measures of core inflation, with some seeing a firming after the drop to 2.5% annualized over the three months to November, whilst the six-month average has stalled at 3.3% annualized suggesting some recent stickiness in inflation.
- The report follows today’s BoC business and consumer surveys, which showed only slow progress in short-term inflation expectations moving back closer to ‘normal’ levels.
- There’s still IPPI on Wed and retail sales on Fri, but CPI will play the key role in guiding market expectations of the tone to expect from the BoC’s decision on Jan 24 (with a first cut seen coming in April).
Recent core CPI trends:
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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