Coming up from Canada later today, at 1330 GMT, which is 8.30 Eastern time:
As is the case in the US eyes are on Services inflation. This has remained sticky in the US.
Bank of Canada Governor Macklem:
- “We will be watching productivity, labour costs and services price inflation closely.”
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A potential loose cannon in the numbers today are revisions that the Stats people in Canada will be making to past CPI readings. They'll revise CPI-trimmed mean and CPI-weighted median measures back 7 years in time. This is normal procedure but it can induce some weird results that make interpretation, and implications, for the expected monetary policy path ahead, difficult.
Also, Statistics Canada will be revisiting seasonal adjustments for prices that change infrequently, such as property taxes, mass-transit prices, health care, education and other regulated prices.
