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Political Backlash For BoC Grows Ahead Of Potential 75bp Hike

CANADA
Two overnight stories of note, including the BoC in focus ahead of a potential 75bp hike tomorrow that would take the overnight rate to 4%.
  • Political backlash to the BoC grows after NDP leader Singh doubled down on a letter to Trudeau arguing the Bank is causing unnecessary harm to workers by pushing rates higher - Globe & Mail - NSN RKA8FJMB2SJM <GO>
  • Canada’s economy lost ~$13B (0.5% GDP) over the past year due to a nationwide labour & skill shortage in the mfg sector - CME report - NSN RKAU93C6YGW1 <GO>

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