However, RBC Economics says broader 'core' inflation measures 'have shown some very early signs that the breadth of inflation pressures may be easing' From m_zadikian
t that have seen price increases greater than the Bank of Canada's target has declined since the summer.North American markets cheered the October U.S. inflation print that was released last week, which showed year-over-year CPI rose 7.7 per cent. It was lower than Wall Street expectations and marked a slower increase than in September.
"I'm still of the view that Canada faces materially greater inflation risk than the U.S. and that it would be a mistake if the central bank signalled clearly that it is done next month," he said. "Rising evidence of labour strife needs to be closely monitored including for spillover effects. The catch-22 to aggressive wage hikes is that they could be precedent-setting for other workers and they would fan inflation and a combination of higher rate peaks for longer," Holt wrote.Bringing inflation down is still proving to be an uphill battle for the Bank of Canada, even though there's been slight progress from the peak of 8.1 per cent in June.
It predicts a half-point hike at the central bank's December meeting, followed by a 25 basis point hike in both the January and March meetings, which would bring the overnight rate to 4.75 per cent.was a half-point increase, smaller than the three-quarter-point rise many economists expected.
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