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 firms expect near-record wage inflation over the coming year even as their expectations for their own prices and consumer price inflation have slipped, according to a survey Thursday from one of the country's biggest industry groups.
Wages are seen climbing 3.4% over the next year, up from the prior month's pace of 3.1% and bringing it closer to the record 3.6% set in June. The Canadian Federation of Independent Business said firms' expectations for price gains slipped 0.2 percentage points to 3.9%, a level still well above the central bank's 1%-3% inflation target band.
Bank of Canada officials have said they are nearing the end of rate hikes but must guard against the risk of entrenched inflation or a wage-price spiral. (See: MNI INTERVIEW: Canada Faces Recession, Not Wage Spiral-Adviser)
CFIB barometers of business sentiment over the next three and 12 months also dropped in the latest survey, bringing them close to levels set in the 2008-2009 recession.
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.