- There was broad consensus at the IMF meetings that inflation is the most-immediate threat to current and future prosperity
- We will be ‘watching closely’ US economy, inflation and rates and factoring that in as we take decisions in Canada
- Whatever Sept CPI shows, economy will still be in excess demand. Labour markets are tight and inflation is too high
- There was a clear resolve to restore price stability at IMF
The market is pricing in a 78% chance of 50 bps from the BOC on October 26 with the remainder at 75 bps.
