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.
Canadian inflation jumped 4.8 in the year to December, the fastest since 1991, in the last big report the central bank sees before a Jan. 26 interest-rate meeting that could bring the first hike since 2018.
Gasoline costs climbed 33%, a measure of housing by 14%, and household appliance prices jumped the most since 1982, Statistics Canada said Wednesday. The CPI fell 0.1% on a monthly basis on gas prices as omicron disrupted travel plans, the first such fall in a year. Economists predicted a 0.1% monthly decline and a 4.9% YOY gain after November's 4.7% rise.
The average of the three core measures the BOC prefers was 2.9%, and the headline rate has how topped the central bank's 1%-3% target band for nine consecutive months. Prices are now rising the fastest since Canada adopted inflation targets.
Governor Tiff Macklem last month said conditions for a rate increase – an economy at full output and inflation sustainably at a 2% target- wouldn’t be in place until the middle quarters of 2022. Investors and economists added to bets on a hike this month on Monday when the BOC’s survey of firms showed a majority saw prices topping 3% for two years, and today's result will likely add to that drumbeat.
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.