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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.
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Free AccessMNI BRIEF: Investors Saw 4% Rate at End of 2023- BOC Survey
Investors saw the Bank of Canada's policy interest rate declining to 4% by the end of this year and inflation slowing but remaining elevated at 2.9%, according to the debut survey of investors published Monday.
The Bank collected responses about three or four weeks before the Jan. 25 rate decision, according to a background paper. Governor Tiff Macklem hiked a quarter point to 4.5% and said he will pause if the economy advances as expected.
Investors also saw inflation at 2.2% at the end of 2024, according to the median of about 30 responses gathered. That's stronger than the Bank's forecast that inflation will return to the 2% target sometime in 2024. Former top government economist Phil Cross has also said the Bank may be too optimistic about an inflation slowdown. (See: MNI INTERVIEW: BOC Too Optimistic On CPI Slowdown: Ex Official)
To read the full story
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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.