01:45 PM EDT, 10/11/2024 (MT Newswires) -- CIBC's Ali Jaffery and Katherine Judge noted Tuesday's CPI data will be the final piece of major information that the Bank of Canada receives on the economy ahead of the October meeting. The CIBC duo said headline inflation is expected to dip below target and look even more muted excluding mortgage interest costs. They noted forward looking indicators of inflation in the BoC's Business Outlook Survey suggest ongoing muted demand and wage pressures, which make the possibility of a 50bp cut "likely" at the meeting, should core inflation measures not surprise to the upside.

(Noting markets are closed Monday for Canada Thanksgiving, the CIBC data calendar also has August Wholesale Sales ex-petroleum and September Existing Home Sales due Tuesday; then September Housing Starts and August Manufacturing Shipments due Wednesday; with August Int'l Securities Transactions due Thursday.)

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