Canadian inflation data kicks off North American trade

Author: Adam Button | Category: News

January inflation numbers due at the bottom of the hour

The Bank of Canada faces a bit of a conundrum. The numbers have been improving but they're skeptical and unsure of the trade landscape.

Their general bias is neutral with a dovish lean but that could flip to something more hawkish if January CPI is strong. The consensus is for a 0.4% m/m climb after a 0.2% decline in December. In year-over-year terms, that's still a modest +1.6%.

The BOC recently rolled out three core measure of inflation called CPI common, CPI median and CPI trim so we'll look for signals there as well.
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