Investors are eyeing the release of Tuesday’s Canada’s inflation data (Mar), which will provide guidance on monetary policy action by the Bank of Canada (BoC). As per the expectations, the headline inflation will decelerate to 4.3% from the prior release of 5.2%. However, the monthly headline figure is seen expanding by 0.6% against an expansion of 0.4%, reported earlier.
Core CPI that excludes oil and food prices would soften to 4.2% vs. the former release of 4.7%. This may allow the Bank of Canada to continue its unchanged policy stance. Canada’s inflation is softening continuously, which has been supporting Bank of Canada Governor Tiff Macklem to remain neutral on interest rates.
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