The Russian Prime Minister: From the beginning of this year to mid-December, the inflation rate in Russia exceeded 9%.

Bank of Canada meeting minutes: The decision to cut interest rates by 50 basis points reflects a growth outlook that is lower than expected, as well as the fact that monetary policy no longer requires explicit constraints. Opinions vary on how much further the policy rate needs to be lowered and over what period this should occur. Members unanimously agreed that they may consider further lowering the policy rate at future meetings, making each decision one at a time.

Bank of Canada meeting minutes: Those in favor of a 25 basis point rate cut indicated that while the full impact of previous rate cuts has become clearer, policy may remain patient.