In early December, the Bank of Canada maintained its target overnight interest rate at 5.00% after a similar move in September, with the central bank noting that "The global economy continues to slow and inflation has eased further." In a sign of that slowing, the Canadian economy unexpectedly contracted by an annualized 1.1% in 3Q, well below the 0.2% growth rate expected and down from a revised increase of 1.4% in 2Q, as higher interest rates took their toll and led to flat consumer spending, while exports and inventory accumulation also weighed to the downside. Lower energy prices, with crude oil contracting some 25% since late September, could also turn into a significant headwind, given the Energy sector's outsized contribution to the Canadian economy. Similar to the U.S., a majority of Canadian economists see the Bank of Canada beginning to cut interest rates by mi