Free Trial

RBC On Tuesday’s Key CPI Report

CANADA
  • RBC expect CPI inflation to slow from 2.9% to 2.7% Y/Y in April despite higher gasoline prices.
  • CPI ex food & energy is seen slowing from 2.9% to 2.6% Y/Y, with the pace of mortgage interest rate cost inflation gradually slowing.
  • RBC expect the BoC to put more weight on the median and trim measures, after the average dropped to 3.0% Y/Y in March to the top of the 1-3% inflation target for the first time since 2021.
  • Being “the last major data release” before the June BoC decision, “absent an upside surprise, we think the soft conditions in the economy and labour markets should warrant a 25-bps interest rate cut from the BoC in June.”

To read the full story

Close

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.