Forward Guidance · Saturday, October 31, 2026
The Bank of Canada hiked interest rates despite consecutive negative jobs reports and flatlining GDP growth, a move described as potentially driven by currency defense or single-mandate reactions.
“And then over here on my side of the border, Canada hiked this week, which I just I can't understand other than being a currency thing like Two days or maybe the day after the Bank of Canada hiked and Macklin really signaled for more hikes to come too. You just get a wildly negative jobs report plus a revision to the previous jobs report being even worse than it was last time.”