**An inflation target monitor will be weekly published in our Macro Walk report starting this week. Subscribe at cablefxm.co.uk/reports
On Wednesday session, we received inflation figures from the U.K. and Canada. British headline prices jumped to 7.9% Y/Y (in line with expectations), the core expanded at 5.9% (missed consensus). Canadian prices ticked at 7.7% Y/Y, this was the highest pace since 1983, prices were pushed by a rise in fuel and traveling costs
When measuring inflation metrics vs central bank targets, the U.K. ranks top at 7.1pp above the BoE's 2.0% target, Canadian prices stand 4.7pp above the BoC's target band. Following the U.K., the Eurozone is 6.1pp above the ECB's mandate, this is why policy tightening bets have been building as this is the only central bank (ex-BoJ) to not have adjusted policy.
We will add actual vs inflation target to the Macro Walk report this week
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