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Scotiabank Previews Monday's CPI, Bank of Canada Business, Consumer Surveys

BY MT Newswires | ECONOMIC | 01/19/26 08:02 AM EST

08:02 AM EST, 01/19/2026 (MT Newswires) -- Canada will refresh the consumer price index figures for December at 8:30 a.m. E.T. on Monday, said Scotiabank.

The signal that the Bank of Canada is on hold for an extended period is clearly communicated, noted Scotiabank.

Consensus is looking for a 0.3% month-over-motn seasonally unadjusted dip in CPI as per the polling convention, stated the bank. Estimates vary from -0.1% to -0.6% (Scotia has a 0.4% month-over-month slip) except for one outlier.

What does matter are the trends in month-over-month seasonally adjusted changes in the various core measures of CPI, added Scotiabank. Whether last month's sharp deterioration was the start of a new trend or an aberration and whether the details stand up to scrutiny will be what matters a bit, it pointed out.

The bank will see the numbers and then judge accordingly.

Canada's central bank will refresh at 10:30 a.m. ET on Monday its "lagging" quarterly business and household surveys, according to Scotiabank. They'll include refreshed measures of inflation expectations that are likely to slip lower based on higher frequency leading indicators.

MT Newswires does not provide investment advice. Unauthorized reproduction is strictly prohibited.

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