Canadian CPI Preview: Forecasts from six major banks, downward path could see a minor detour CPI Canada BOC Macroeconomics Banks
data on Tuesday, February 21 at 13:30 and as we get closer to the release time, here are the forecasts by the economists and researchers of six major banks regarding the upcoming Canadian inflation data.
Headline is expected at 6.1% year-on-year vs. 6.3% in December. However, on a monthly basis, it is expected to have risen by 0.7%. “Canadian inflation pressures are expected to have lightened up again in January, with headline inflation growing at 6.1%. Core CPI is also expected to have edged lower again, to 5.1% YoY. The Bank of Canada’s preferred CPI trim and median measures are also expected to tick lower. We continue to look for the Bank of Canada to hold rates at current levels.
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