Australian shares are set to open higher. US stocks slip late. $A lower as iron ore extends retreat. Bitcoin slides anew. Follow updates here.
In a note Bank of America said it was revising higher its forecasts for inflation for Canada for this year and 2023 after an unexpected surge in May.
The inflation gauge rose 1.4 per cent from a month earlier with gasoline, hotel rates and cars among the largest contributors to the gains in May. “We continue to see upside risks to core inflation as the economy keeps growing above its potential, and the labour market remains tight,” BofA said in its report.
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