Economist: Canadian CPI data unfavorable to the Central Bank of Canada

GoldenOctober2024

2024-12-17 15:08:15

On December 17th, Jin10 Data reported that Doug Porter, Chief Economist at Montreal Bank Capital Market, stated that the CPI data for November was a shock to the Canadian Central Bank. The short-term core CPI data favored by the Canadian Central Bank shows that potential price pressures are increasing, which offset the overall CPI slowdown to 1.9%. However, the core CPI for the fourth quarter will be close to the average level of 2.65%, or higher than the Canadian Central Bank’s forecast of 2.3%. The weakening Canadian dollar may further push up prices. In general, the Canadian Central Bank may cut interest rates by 25 basis points at the appropriate time.

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