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MNI Canada Fall Economic Statement Preview: Watching Issuance And CMB Plans

CANADA

  • Released from 1600ET, the Fall Economic Statement is expected to mark the current fiscal year’s deficit higher, mostly as a result of programs announced since the March Budget, whilst prior commitments limit the scope for improvement thereafter.
  • Freeland is expected to focus on housing affordability and cost of living issues but isn’t expected to rock the boat here, with greater uncertainty on the composition of planned issuance (both GoCs and bills) and long-awaited details on what’s happening to the CMB program.
  • Today’s reaction to decent moderation in core CPI inflation suggests potentially greater skew in market reaction towards a more inflationary budget than expected.
  • Find the full report here: https://roar-assets-auto.rbl.ms/files/58167/Canada%20EFU%20Preview%20Nov-2023.pdf

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