Record-breaking immigration is muddying the economic picture for the Bank of Canada, distorting key statistics and making its battle against inflation more difficult. A surge of newcomers – largely driven by an unplanned spike in foreign students and temporary workers – has pushed Canada’s population growth rate to 3.2 per cent, one of the fastest in the world. The country added more than 1.2 million new residents in a year, an influx that has propped up gross domestic product, bolstered consumer demand and led to higher costs for homes, all while dragging on productivity and boosting the unemployment rate. It’s creating a puzzle for policymakers and economists. Population gains are comp
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