MNI INTERVIEW: Fed QT Likely To Linger After Rate Cuts Start

MNI BRIEF: BOE Markets Head Sees Wider Collateral, More Repos

MNI PBOC WATCH: PBOC Cuts 7-Day Rate As Reconfigures Framework

MNI China Daily Summary: Monday, July 22

MNI BRIEF: PBOC Lowers Ceiling of Its Interest Corridor

MNI: PBOC Sets Yuan Parity Higher At 7.1335 Mon; -1.18% Y/Y

EZ/UK Bond Supply Calendar: UK, Germany Auction on Tuesday

CBRT Data Watch

NBH Data Watch

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

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

Local Analysts On CPI Report

CANADA
Hike in July still likely
  • BMO: BoC policymakers won't breath a huge sigh of relief after this report as core inflation remains sticky and has yet to show signs of a durable slowdown. The odds of a July rate hike might be slightly lower now, but if the rest of the data hold up over the next 2 weeks, a hike still looks likely.
  • RBC: Absent a large downside surprise [in GDP and BoC surveys] , we continue to expect the bank to hike the overnight rate by another 25bp in July, before stepping back the sideline for the rest of this year.
  • TD: The BoC will be relieved that core inflation momentum did not continue to build over May, but the 3.7% annualized rate over the last three months is still too high for comfort. We think today's report is consistent with another 25bp hike in July but takes some pressure off the Bank to continue tightening beyond 5.00%.
Wait for September
  • CIBC: Today's data don't change the fact that inflation is running hotter than the Bank's prior April MPR forecasts. However, the tamer core readings suggest that policymakers may be able to wait a little longer rather than following up June's hike with another move as early as July, and we therefore continue to expect policymakers to wait until September to deliver a final 25bp hike.
HomepageBulletMarketsFixed 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.