BREAKING: CPI inflation in Canada above expectations!

Canadian CPI inflation for July (Actual: 3,3% y/y. Forecast: 3% y/y. Previously: 2.8% y/y).

Inflation m/m (Actual: 0,6% m/m. Forecast: 0.3% m/m. Previous: 0.1% m/m)
core inflation y/y (Current: 3.2% vs. expected 2.8% and earlier reading of 3.2% y/y)

core inflation m/m (Current: 0.5% vs. expected 0.4% and previous reading of -0.1% m/m

The Canadian dollar is gaining against the USD amid rising expectations of further interest rate hikes by the BoC.

The mortgage interest cost index (+30.6%) posted another record year-over-year gain and remained the largest contributor to headline inflation. The all-items excluding mortgage interest cost index rose 2.4% in July. Source: statcan

CANADIAN MONEY MARKETS SEE A 35% CHANCE OF BOC RATE HIKE IN SEPTEMBER, UP FROM 22% BEFORE THE INFLATION DATA.

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Economic reports

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BREAKING: CPI inflation in Canada above expectations!

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