September CPI keeps Bank of Canada hold in play
Core pressures stay contained
For mortgage brokers advising clients on rate timing, the more instructive signal came from the BoC’s preferred core measures.
CPI-median fell to 1.9% in September from 2.0% in August, while CPI-trim eased to 1.8% from 1.9%, both moving away from hike territory and averaging 1.9% across the two, down from 2.0% the month prior.
Leslie Preston, managing director and senior economist at TD Economics in Toronto, offered a clear verdict.
“No jump scares in Canada’s inflation in September,” she said.
