Not BOC, but not unrelated to the thread/trend either.
Inflation rose 8.6% in May, highest since 1981
https://www.cnbc.com/2022/06/10/cons...-may-2022.html
Quote:
The inflation report comes with the Federal Reserve in the early stages of a rate-hiking campaign to slow growth and bring down prices. May's report likely solidifies the likelihood of multiple 50 basis point interest rate increases ahead.
"Obviously, nothing is good in this report," said Julian Brigden, president of MI2 Partners, a global macroeconomic research firm. "There is nothing in there that's going to give the Fed any cheer. ... I struggle to see how the Fed can back off."
With 75 basis points of interest rate rises already under its belt, markets widely expect the Fed to continue tightening policy through the year and possibly into 2023. The central bank's benchmark short-term borrowing rate is currently anchored around 0.75% -1% and is expected to rise to 2.75%-3% by the end of the year, according to CME Group estimates.
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