Canada: Growth expected to pick up to 3.5% y/y - BBH

Analysts at BBH point out that Canada reports October GDP and suggest that growth is expected to pick up to 3.5% y/y from 3.3% in September. 

Key Quotes

“Data yesterday was firm.  Headline CPI ran higher than expected at 2.1% y/y while retail sales were up 1.5% m/m vs. 0.5% expected.  A majority of analysts are looking for a 25 bp hike to 1.25% at the next BOC meeting January 17, while BBG's WIRP page showed the odds rising from 50% to 60% yesterday after the data, only to fall back to around 54% today.”