Statistics Canada will release September inflation data at 20:30 tonight; markets will look for clues ahead of next week's BOC policy decision. RBC projects September headline CPI YoY at 3.0% and core CPI easing to 1.8% from 2.1%. The BOC's business outlook survey, also due, should shed light on activity and inflation expectations; firms are expected to report weaker confidence, with short-term inflation expectations possibly rising and long-term expectations remaining near the 2% target. Market

Statistics Canada will release September inflation data at 20:30 tonight; markets will look for clues ahead of next week's BOC policy decision. RBC projects September headline CPI YoY at 3.0% and core CPI easing to 1.8% from 2.1%. The BOC's business outlook survey, also due, should shed light on activity and inflation expectations; firms are expected to report weaker confidence, with short-term inflation expectations possibly rising and long-term expectations remaining near the 2% target. Markets currently price the BOC to keep rates unchanged through year-end; a persistent upside surprise in inflation would raise the odds of a December rate hike.