Free Trial

Last CPI Print Before Dec BoC Comes Into Focus

CANADA
  • Next week’s CPI inflation for October (Nov 16) is the last CPI print before the Dec 12 BoC decision, pricing for which has tilted more towards a 25bp hike after the US CPI miss from a more balanced 25bp vs 50bp prior.
  • Governor Macklem noted yesterday some “tiny little green shoots” in the last couple CPI numbers.
  • Analyst expectations have a typically wide range: Bloomberg 'consensus’ of eight surveyed sees headline CPI dip from 6.9% to 6.8% Y/Y but has a range of 6.7-7.4% Y/Y.
  • Within that, CIBC look for a climb to 7.2% Y/Y, reflecting an increase in pump prices, whilst on the month they look for traditional core of ex food & energy remaining above a rate consistent with the 2% inflation target.

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.