• Notes From The Desk | FOMC Announcement

Notes From The Desk | FOMC Announcement Nov 17 2021

Canadian Inflation

· Headline CPI came in as expected at 4.7%, while core inflation was 1.8% (a touch below the expectation of 1.9%)

· With the Bank of Canada forecast of 4.8% for Q4, today’s numbers should do little to ease concerns over inflation nor should it stoke these fears further

· The market is pricing in 4-5 hikes next year with the first hike coming in March/April. Today’s print should do little to alter these expectations.

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