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!?