forex Canada November GDP 1/31

Canada's stronger-than-expected November GDP report makes an interest-rate cut look less likely in the near term, Capital Economics says. Statistics Canada reported a slight 0.1% advance in November GDP from the previous month, surpassing market expectations for a flat reading. CapEcon's Stephen Brown anticipates the December data will show at least a 0.2% monthly gain, which he said should be enough to convince policy makers their fears of a further slowdown are unwarranted. That kind of advance in December "will ensure the Bank keeps policy on hold in the coming months