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's year-over-year inflation rate rate set a fresh three-decade high in March, climbing to 6.7% from 5.7% on widespread gains led by a surge in gasoline following the outbreak of the Ukraine war.
Prices rose 1.4% on a monthly basis, also the largest gain since 1991 and accelerating from 1% in February, Statistics Canada said Wednesday comfortably ahead of analysts expectations of a 6.1% y/y gain. Gasoline prices jumped 12% in March and 40% from a year ago, and even excluding that item the CPI rose 5.5% from a year earlier. Housing upkeep costs climbed 13% and grocery store bills by 8.7%.
The BOC last week raised rates 50bp to 1% and said more action is likely needed with inflation forecast to remain above its 2% target into 2024, and another 50bp hike is expected at the next meeting June 1.
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.