European Monetary Union Trade Balance n.s.a. fell from previous €24.1B to €23.6B in November

The Bank of Canada will meet on 20th January to take rate related decisions. The markets are eager to know what path the central bank chooses as it fights low oil price on one hand and rising inflation prompted by weak loonie on the other. When the central bank had least met in December, it had decided to keep rates unchanged at 0.50 per cent. The BoC noted that “the risks to the outlook for inflation remain within the zone for which the current stance of monetary policy is appropriate”, suggesting a neutral policy stance." The bank had at its last meeting adopted a neutral policy stance.