The Financial Post reports in its Thursday, Dec. 11, edition that National Bank of Canada economists Taylor Schleich and Ethan Currie said in a note, "As expected, the Bank of Canada held its policy rate unchanged, but stopped short of validating market expectations for rate hikes as soon as the middle of next year." Policy-makers had to consider strong third quarter economic growth versus ongoing slack as well as strong job numbers versus weak hiring plans, leading BOC Governor Tiff Macklem to stick with his guidance on rates. The pair said, "Going forward, we see the Bank of Canada holding steady through at least the first half of the year." However, they advanced their call for a rate hike to the final quarter of 2026 from the first quarter of 2027 if the unemployment rate continues to fall but inflation starts to heat up. If United States–Mexico–Canada Agreement talks turn "messy," rate hikes could be pushed into 2027. The National economists said, "The Bank of Canada still thinks the policy rate is at 'about the right level' to achieve their mandate and they stand ready to respond to more material changes to the outlook."