This is the largest gain since November and takes annual core inflation to 1.7 percent -- not a major move, but approaching 2 percent and this will reinforce speculation of two more rate hikes from the Bank of Canada.
More Quotes from Andrew Pyle:
It's almost a naive assumption to make.Andrew Pyle
Monetary policy aimed at either fending off a low-probability occurrence of high core inflation or at curing a debt binge in Canada will run a greater risk of choking off consumption growth than in the U.S..
Andrew Pyle
It's really a day where you're going to focus on the U.S. economic story. But I think we should see a generally positive run today.
Andrew Pyle
There's probably broad agreement within the Tory party for that. There's no concrete details on that, but you get the impression that Conservatives would probably support that as well. Obviously, the Liberals would support it because it's their program.
Andrew Pyle
If retail sales remain healthy, it will give further support to the economic growth in the first quarter. This put pressure on bonds.
Andrew Pyle
While the report alone is not going to be enough to prevent a 25 basis-point hike by the Bank of Canada next Tuesday, if the core trend is not turned around in the first couple of months of the new year, there will be a strong argument against further tightening.
Andrew Pyle
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