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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 DATA
- Near-term consumer inflation expectations eased back from new cycle highs in the Q1 consumer survey at 6.03% (from 7.18%) for one-year ahead.
- Longer-term measures also saw sizeable declines on the quarter, with the two-year ahead at 4.27% (5.14) and less so five-year ahead at 2.92% (3.10).
- Despite those declines, 1- and 2-year measures remain elevated considering the Bank's prior focus on high inflation readings but becoming entrenched. With that said its notable that the 5-year ahead is its lowest since it started being asked in mid-2015, and the first quarter it’s dropped into the BoC’s 1-3% target range.
- [Within the details, note the large discrepancy within five-year responses: those who know there’s an inflation target expect 2.5%, those who don’t 3.8%]
- Of note after last week’s budget (although with the survey collected Jan 27-Feb 16 and follow-up interviews in March), more than 50% of consumers see supply chain issues affecting inflation for the next 1-2 years but beyond that see government spending as a more pervasive inflation driver.
Source: Bank of Canada
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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