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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.
CANADA
- With the dust settled after the BoC held at 0.25%, drops in BAX futures yields have been limited to -4.5-7bps from yesterday for much of the curve.
- The statement accompanying the decision noted it “expects interest rates will need to increase, with the timing and pace of those increases guided by the Bank’s commitment to achieving the 2% inflation target”.
- Macklem’s repeated mention of the significant shift in monetary policy and moving in deliberate steps in the following press conference further limited the moves.
- This is especially so for the Dec’22 at -4.5bps. Early sellside analyst reports appear to agree. ING sticks with at least 4 hikes in 2022 (it expected a hike today) whilst, from the more dovish views prior to today, CIBC has increased from 3 to 4 hikes and RBC sees risk of more than their original call for 3 this year.
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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