Just hours ago, The Bank of Canada held rates steady and complained about various internal and external factors that were negatively impacting the Canadian economy...
Holding rates unchanged at 1.75%, the BOC cited almost everything that has gone wrong:
- moderating global growth,
- a “materially weaker” outlook for the oil sector,
- a faster-than-expected deceleration of inflation,
- a drop in business investment and downward historical revisions to output
And today we get this...
Canada added 94,100 jobs in November - the most ever! Sending the Canadian unemployment rate to a record low 5.6%...
So WTF!?
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