As expected.

  • Further reduction in stimulus would need to be carefully considered
  • Economic growth in H2 2010 appears slightly weaker than projected in October monetary policy report
  • Q3 net exports were weaker than projected, continued to exert “significant drag” on growth
  • Weak Q3 data underline risk that poor productivity, strong C$ could dampen recovery of net exports
  • Q3 household spending was stronger than expected, business investment was robust
  • Canada inflation dynamics broadly as expected, underlying pressures remain largely unchanged
  • Global recovery proceeding largely as expected, but risks have increased
  • Increased risk that sovereign debt concerns could trigger renewed strains in financial markets