- January 17, 2023
- Posted by: AliensFaith
- Category: OBJECTIVE PRESS
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- Prior was 6.9%
- CPI m/m -0.6% vs -0.5% expected
- Prior m/m reading was +0.1%
- Gasoline prices +3.0% vs +13.7% y/y in prior
- Gasoline prices -13.1% m/m vs -3.6% prior
- Food +11.0% vs +11.4% y/y prior
- Mortgage interest costs +18.0% vs +14.5% prior
Core measures:
- BOC core y/y 5.4% vs 5.8% prior
- BOC core m/m +0.3% vs +0.0% prior
- Median 5.0% vs 5.0% prior
- Trim 5.3% vs 5.3% prior
- Common 6.6% vs 6.8% expected
The market was pricing a 71% chance of a 25 bps hike from the BOC this month ahead of the report with the remainder betting on no change in rates. Initially that’s little changed but this combined with the weak BOC business outlook survey yesterday should ensure that the central bank is either done already or is one-and-done.
CAD
This article was written by Adam Button at http://www.forexlive.com.
