The economy in Canada edged up by 0.1% in October with projections to broaden with the same pattern for November, hinting that rising the interest rate for seven times in a row did not show its effect yet.

The advance retreated in October considering September growth at 0.2%, which has been revised high from earlier edge at 0.1%. The raise in October came on the same page of the expected average.

The interest rate has been raised in 9 months to a record hike by the bank of Canada at 400bp in an attempt to combat the soared inflation that surpassed the 2% target.

In November, the annual inflation rate saw a decline at 6.8%, yet it came above forecasts due to the push of prices on a boarder scale, raising the possibility of another rate hike by the beginning of the next year.

The markets' outlook with a percentage more than 50% hovers around 25bp raise in January.

Analysts initial forecasts for the 0.1% growth in November was triggered by earnings in utilities and wholesale trade.

The Canadian dollar versus the U.S. dollar steadied at 1.3645.