Days after a 25bp BOC hike, data show Canadian employment fell 49.6k in August
and GDP growth stalled that month, with September likely to contract; the
Figures imply Q3 annualized GDP near 1.3% versus the BOC’s prior 2% forecast.
David Rosenberg, head of Rosenberg Research, said the weak prints challenge
expectations of an economic acceleration and questioned whether the central bank
can ignore the recent soft data. He added the rate decision looked based on
questionable survey signals rather than real activity and that there is no
Evidence fuel-price rises have passed through to non-energy goods prices.
