MNI BRIEF: Canadians Fuzzy On How BOC Hikes Slow CPI, Government's Role

CANADA FLASH MAY GDP +0.1% ON FACTORIES AND REAL ESTATE

MNI China Daily Summary: Friday, June 28

MNI BRIEF: BCB Evaluating Real Depreciation Impacts - Galipolo

MNI BRIEF: PBOC Pledges to Curb Any Overshoot Of The Yuan: MPC

MNI: PBOC Net Injects CNY40 Bln Via OMO Fri; Rates Unchanged

MNI: BAKER HUGHES US RIG COUNT 581; OIL RIGS 479; GAS RIGS 97

EZ/UK T-Bill Calendar: Germany, France Auction on Monday

EZ/UK Bond Supply Calendar: BoE APF on Monday

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Gravelle On Why The BoC Kept To Its Hiking Bias

CANADA
paraphrasing remarks from the press conference with BoC Dep Gov Gravelle:
  • We still see risk to the inflation outlook and are prepared to raise our policy rate further. That’s basically a reference to what we’ve been concerned about for a long while, this potential persistence in the inflation profile.
  • It’s reflected in some of the indicators we’re looking – continued high wage growth of 4-5%, high short-term inflation expectations and we haven’t seen price setting behaviour of firms come back to normal yet. Those are starting to move towards that direction but we haven’t seen enough data to be less concerned about the inflation outlook that could have a period of increases.
  • Inflation went down to 2.8% in June and then popped back up to 4% in August so there’s still some volatility out there and that's why we’re holding onto that stance.
  • Although we’ve seen some good news in certain inflation measures in October, it’s only one data point and we want to see enough information that we see inflation on a sustainable path to 2%.
Homepagemarkets-real-timeBulletMarketsFixed Income BulletsForeign Exchange Bullets Bank of Canada Market News

To read the full story

Close

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.