TSX Futures Fall Amid Hawkish BoC Outlook
Canadian stock market futures moved lower on Monday as investors assessed fresh inflation data. Canada’s annual inflation rate reached 3.1% in September, its highest level in four months, driven by higher gasoline prices, but came in below market expectations of 3.2%. Still, the outlook on the BoC is tilted to the hawkish side as policymakers flag upside risks to price growth. Governor Tiff Macklem had said on Saturday that the central bank expects to raise its quarterly inflation forecast significantly this month, while he struck a hawkish tone last week over energy-driven inflationary pressures. Oil prices remained elevated amid attacks to tankers in the Strait of Hormuz, keeping inflation risks in focus. Meanwhile, Reliance Worldwide said no rival bidder emerged during the “go-shop” period under Brookfield’s proposed acquisition of the company.
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Canadian stock market futures moved lower on Monday as investors assessed fresh inflation data. Canada’s annual inflation rate reached 3.1% in September, its highest level in four months, driven by higher gasoline prices, but came in below market expectations of 3.2%. Still, the outlook on the BoC is tilted to the hawkish side as policymakers flag upside risks to price growth. Governor Tiff Macklem had said on Saturday that the central bank expects to raise its quarterly inflation forecast significantly this month, while he struck a hawkish tone last week over energy-driven inflationary pressures.
Oil prices remained elevated amid attacks to tankers in the Strait of Hormuz, keeping inflation risks in focus. Meanwhile, Reliance Worldwide said no rival bidder emerged during the “go-shop” period under Brookfield’s proposed acquisition of the company.