Institution: Core CPI is at a high level, and the Bank of Canada may hold steady on Wednesday.

Jin10 data reported on October 29, RSM Chief Economist Joe Brusuelas is one of the few analysts expecting the Central Bank of Canada to maintain the interest rate this Wednesday. He stated that since the core CPI is still hovering around the high of 3%, Canadian Central Bank officials should wait a little longer before providing policy easing. However, he pointed out that if they hold steady in October, a rate cut is very likely in December. He said: “The Canadian economy is currently too weak, and the Central Bank of Canada cannot delay increasing policy easing for too long.”