1022 ET - Even with a hotter-than-anticipated October CPI data, inflation dynamics in Canada remain contained and within the Bank of Canada's comfort zone, says Charles St-Arnaud, chief economist at Alberta Central. The BOC's preferred core CPI measures accelerate in October to an average 2.8%, but that marks the ninth straight month below 3% or the upper limit of the BOC's target range, St-Arnaud says. The economist adds the most recent BOC forecast expects inflation to average 2.1% in 4Q. Overall, the inflation dynamics "remain consistent with inflation within the target band" of 1% to 3%, says St-Arnaud, who is sticking to his call for a half-point rate cut from BOC next month. (paul.vieira@wsj.com; @paulvieira)
(END) Dow Jones Newswires
November 19, 2024 10:22 ET (15:22 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.