Canada CPi reactions: Weak consumption is finally starting to impact pricing ...Middle East

The Canadian dollar is softer today after a CPI surprise. The monthly inflation report showed prices up 2.9% y/y compared to 3.3% expected. It's a welcome relief for Canadians but will it change the path for the Bank of Canada? Markets are currently pricing in a 24% chance of a March cut compared to 19% before the data.Further out, economists weigh in on what it means.CIBC:Weak consumption is finally starting to impact pricing in areas of more discretionary spending. They highlight that the BOC's Q1 forecast is for 3.2% but Q1 is tracking at a 2.9% pace. Food price inflation eased, with the 0.1% seasonally adjusted increase on the month the weakest since March 2021. They also note an unusual

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