BRIEF: EC Approves Italy's 5th NGEU Payment Request For EUR11 billion

MNI BRIEF: ECB's Eye On French Markets, Price Stability Key

MNI BRIEF: Lower Inflation Path Remains Bumpy - Lagarde

MNI BRIEF: 'Noise' Driving Economic Deterioration- Campos Neto

MNI China Daily Summary: Tuesday, July 2

MNI BRIEF: China Aims For AI Standards By 2026

EZ/UK T-Bill Calendar: Greece, EU Auction on Wednesday

EZ/UK Bond Supply Calendar: 2.60% Aug-34 Bund Due Wednesday

Ita-coin Nowcast Negative For Second Month

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

MNI BoC Review, Dec'23: Waiting For January, Unless Gravelle Surprises

EXECUTIVE SUMMARY

  • The BoC left its overnight rate unchanged at 5% as heavily expected.
  • More notably it didn’t drop its explicit hiking bias but that has done little for already large cut expectations for 2024 with the start date still seen with the April meeting.
  • There was acknowledge of the softening in economic and labour data although the latest drop in the shorter-term trend core inflation was ignored.
  • Markets mostly brushed the short statement off but Dep Gov Gravelle could still have an impact today (Thu, remarks 1235ET). The next major data are Canadian CPI on Dec 19, one of two CPI releases before the January BoC which include fresh forecasts in the Monetary Policy Report.

PLEASE FIND THE FULL REPORT HERE:

BOCReviewDec2023.pdf

Central Bank ReviewHomepageBoC - ReviewCentral Bank ReportsMarkets 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.