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Citigroup stated that we believe the policy decision of the Bank of Canada in October remains uncertain, but this week's weaker September CPI data pushed the risk balance from rate hikes to another pause. The decline of core inflation from its high point in August may raise enough questions about whether policy interest rates necessarily need to be raised. However, while interest rates remain unchanged at 5.0%, the guidance that "there is still a possibility of further interest rate hikes" should continue to be maintained, and may even be updated to reflect that the possibility of further interest rate hikes has already increased. It is not ruled out that there is a possibility of a rate hike in December, especially before the rate hike in December, there is still a CPI data to be released.
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