Canada: Despite weak labor numbers, another BoC rate hike is still likely – CIBC – by MSalordFX Canada Employment Banks
The Canadian employment report released on Friday showed weaker-than-expected numbers, with an unexpected decline in net employment. Analysts at CIBC point out the weak headline figures may have the Bank of Canada questioning its apparent commitment to even higher interest rates but they noted numbers could rebound in the months ahead due to education employment. “Summer lulling continued in the Canadian labour market, with a 40K drop in jobs marking the third consecutive monthly decline.
“The weak headline figures may have the Bank of Canada questioning its apparent commitment to even higher interest rates. However, with the large drop inemployment potentially reversing ahead, and with one more labour force survey before the Bank's October meeting, it still seems likely that at least one more rate hike will be in store before a pause is seen.”
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
Argentina Últimas Noticias, Argentina Titulares
Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.
BoC's Rogers: Policy interest rate will need to rise furtherBank of Canada (BoC) Senior Deputy Governor Carolyn Rogers reiterated on Thursday that the BoC continues to judge that the policy rate will need to ri
Leer más »
On our way to 4%? What economists say about Bank of Canada's statementBank of Canada hiked its key interest rate to 3.25% to fight inflation. Here is what the economists say about the decision and statement
Leer más »
USD/CAD Price Analysis: Bullish correction playing out with focus on 1.3130 key resistanceUSD/CAD lost its footing on Wednesday as risk sentiment improved, knocking the US dollar off its bull cycle highs while the Bank of Canada hiked rates
Leer más »
Forex Today: US Dollar Gives Back GainsToday's Forex news: US Dollar Index Falls; USDJPY Hits 24-Year High at ¥145; EURUSD Trades at 19-Year Low; Stocks Recover; Markets Await ECB; BoC Hikes by 0.75%
Leer más »
The biggest winners and losers from the Bank of Canada's interest hikeThe Sept. 7 rate hike has pushed the prime rate up yet again in an effort to stall inflation. Will there be more rate
Leer más »