Last week, the Bank of Canada's board of governors said "things are moving in the right direction and there is no longer a need to raise interest rates further."

The federal government, excluding insurance claims, broke all records, rising to $11.8 billion, bringing the budget deficit to $15.1 billion, up 5.4%, compared with the same period a year ago
The country's budget in April and October, when spending on all major items grew, with $7 billion coming from spending on all major items.

However, this was said before Statistics Canada released its latest inflation data, which showed the consumer price index remained at 3.1% in November.

“Despite the soothing talk, inflation remains hot,” said Eric Lascelliere, chief economist at Global Asset Management, “And this information could force the Bank of Canada to change its calming tone. According to new figures, the incomes of “It would be fair to say that a number of questions about its extent have not yet been answered,” added Lascelliere, “and we do not see any symptoms of a return to the previous 2%.”  

Anastasia Chupina