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Data on Tuesday showed inflation well off its highs in Canada - Bank of Canada implication

The May 2023 inflation data from Canada is here:Canada May CPI 3.4% y/y versus 3.4% expectedRBC provide a "bottom line" forecast of what it means for the BoC:Although slowing, underlying inflation trends in Canada are still running well-above the BoC’s 2% target. Higher interest rates are cutting into household purchasing power, but spending to-date has been firm. Labour market conditions are also more resilient than expected in 2023 to-date. GDP data and the BoC’s own Q2 Business Outlook S... Read More

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Showed

Inflation

Well

Highs

Canada

Bank

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Forex

Posted: Jun 28 2023, 00:34

Author Name: forexlive

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