Canadian February CPI came broadly as-expected, +2.2% year-over-year, Nathan Janzen from the Royal Bank of Canada briefs. USD/CAD is trading at 1.443.
Key quotes
“In the latest backward-looking economic data, Canadian CPI was broadly as-expected in February rising 0.4% month-over-month and 2.2% from a year ago.”
“Headline CPI could easily test the lows seen over the last five years (sub-1% in 2015).”
“For the Bank of Canada, all of this means little in the near-term. Lower inflation means the central bank won’t feel conflicted about adding stimulus, but supporting the economy through this shock would have been its top priority anyways.”
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