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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
- Our initial focus in an earlier bullet was on latest sequential trends, which the BoC is more explicitly focused on, but it’s also worth checking in with Y/Y trends.
- Headline CPI came in higher than expected in July at 3.27% Y/Y (cons 3.0%) as it increased strongly from 2.8% in June which had seen the first print back in the 1-3% target range since March 2001.
- Higher mortgage costs increasing a record +31% Y/Y were the largest contribution as a byproduct of the BoC’s tightening, whilst ‘traditional’ core measures saw a pause in moderation after good progress in recent months: ex food & energy dipped from 3.5% to 3.4% Y/Y, whilst ex 8 most volatile and indirect taxes inched lower from 3.18% to 3.16% Y/Y.
- As noted earlier, there was minimal progress in the BOC’s preferred median/trim average, with 3.65% Y/Y after 3.70% Y/Y in June and 3.75% Y/Y in May.
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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