- Argentina’s economy grew 20 percent in the third quarter compared to Q3 2004 and increased 3.6 percent on the previous quarter.
- The overnight funding rate, Canada’s benchmark interest rate, was raised 25 basis points to 3.5 percent in late January. In doing so, the Bank of Canada said “some modest further increase” is likely to keep inflation on target and ensure a balance in supply and demand. In December, the BOC indicated it was leaning towards reducing rates.
- Canada’s third quarter GDP increased 6.2 percent yearover- year and 2.8 percent quarter-over-quarter. The country’s third-quarter unemployment rate inched up 0.1 percent on the previous quarter to 6.5 percent. The overall unemployment rate for 2005 dropped 0.5 percent, and the jobless numbers had fallen to their lowest level in 30 years by year-end. Education and construction sectors led job growth for 2005, while the employment growth rate was highest among the self-employed.
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