TD Securities Forecasts Canada June CPI at 2.9% YoY, Monthly Drop of 0.2%
TD Securities expects Canadian headline CPI to ease to 2.9% year-on-year in June, with a 0.2% monthly decline driven by sharply lower energy prices, supporting the Bank of Canada's stance.
Robert Both of TD Securities forecasts Canada's headline CPI for June at 2.9% year-on-year, with a monthly decline of 0.2%. The drop is attributed to sharply lower energy costs.
This pullback in inflation supports the Bank of Canada's current policy position, according to the note.
Source: FXStreet Forex News