The Canadian economy isn’t looking so hot lately, perhaps we need more stimulus. How low can the looney go?
Canada’s currency extended declines after the report, falling 0.5 percent to C$1.3552 against its U.S. counterpart at 9:24 a.m. Toronto time.
The GDP numbers add to recent indicators showing low interest rates and a program of federal government stimulus are so far failing to spur a recovery. Inflation slowedto a 1.2 percent pace in November from a year earlier, the statistics agency said Thursday, a softer reading than economists forecast, with one measure of core inflation slowing to the lowest level since 1996.
Read the full article over at bloomberg.