Ahead of the release of Canadian inflation data, one strategist said disinflation in goods will contribute to cooling inflation figures.
is set to release its Consumer Price Index for the month of June. In an interview with BNN Bloomberg Monday, Dominique Lapointe, a global macro strategist at Manulife Investment Management, said he expects that inflation eased in June.
“Even if we do get a low number tomorrow, the question is will economic activity slowdown in the coming months so that the Bank of Canada is comfortable that in the second half of this year, we're not going to get a rebound in these categories,” Lapointe said. In order for a pause in rate hikes to occur in September, Lapointe said that the Bank of Canada will need to see a near-term decrease in spending in both retail sales and overall economic activity. However, he said it is difficult to predict what will occur.
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