Canada’s population grew by 74,000 in December.

We only added 100 jobs.

Wage inflation shot up to 5.7%, about 5.4% expectations.

So wages picking up major speed and more people jamming into the country demanding housing and food and services, and BOC seems to want to cut rates.

This looks like a horrid set up for wage price spiral inflation and a debasement of the Canadian dollar, which itself will then drive higher import good inflation.

US had a very strong jobs report today and now will be less inclined to cut rates, so monetary policy divergence could happen here.

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