Inflation data for December Canada they mostly showed figures below expectations. The consumer price index (CPI) fell 0.2%, being that it was expected to remain unchanged. In November it had risen 0.1%. Compared to twelve months ago, the index was up 0.7%, down from 1% last month and the market consensus.
Regarding the Bank of Canada core inflation fell 0.4% in December, more than the expected decrease of 0.2%. The annual rate of this indicator remained at 1.5%.
Later on Wednesday, the Bank of Canada will announce its monetary policy decision. No changes in interest rate are expected. In any case, the statement and the central bank’s macroeconomic projections are expected to have an impact on the market.
The USD / CAD did not experience major changes after the report. The pair is trading at the 1.2700 area, in negative territory for the day.
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