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JPM: Merit In BoC Gathering More Data But Expect Pressure To Hike Next Month

CANADA

Along with Goldman, JPMorgan offer one of the more hawkish rate paths on the street in seeing pressure for another hike with the October decision.

  • They think the Bank will pause on Wednesday but remain hawkish, with inflation still running above the target range and concerns about the outlook for inflation will likely prevail.
  • "Since the BoC just raised the policy rate in back-to-back announcements in June and July, we expect the Bank will see the merit in gathering more data to assess next steps."
  • However, "We forecast that stubbornly higher inflation, tight labor markets, and continued strong wage growth will put pressure on the Bank to hike in October."
  • Following on Thursday, they expect the Governor Macklem's remarks to maintain a hawkish tone.
Homepagemarkets-real-timeCanada Bank of Canada Market NewsBulletJPMorgan Market News Fixed Income BulletsForeign Exchange BulletsMarkets
Homepagemarkets-real-timeCanada Bank of Canada Market NewsBulletJPMorgan Market News Fixed Income BulletsForeign Exchange BulletsMarkets

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