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 likely quickened to 3.4% in July from 3.1% in June according to an economist consensus, keeping it above the top of the central bank's 1%-3% target band for a fourth month.
Energy costs, some base effects against comparisons to last year's weakness, and rising service costs as the economy re-opened are expected to push prices up. The expected increase in the Statistics Canada report due at 830EST would move inflation closer back towards the decade-high pace of 3.6% set in May.
The BOC last month affirmed its view that price gains are transitory, while scaling back QE and holding a record low 0.25% interest rate. The bank also raised inflation forecasts, predicting CPI of 3.9% in the third quarter and 3.5% in the fourth quarter. The cost of living has become an issue in Canada's election campaign launched Sunday for Sept. 20, with opposition Conservatives attacking Liberal PM Justin Trudeau for rising food and housing prices.
Source: Stats Canada
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.