Canadas turn for an upside inflation surprise
Wednesday 26th June 2024
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Canada\u2019s inflation came in hotter than expected in May and that\u2019s pushed up Canadian bond yields overnight, but there\u2019s been limited reaction to that \u2013 or anything really \u2013 on currency markets. NAB\u2019s Taylor Nugent says the print has pushed back expectations for the Bank of Canada to cut again in July. What happens next depends on the data. We get more Australian data today, with the CPI print for May and a speech by the RBA\u2019s Chrisopher Kent.
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