-
Canadian Jobs Reinforce Forecast for Another Bank of Canada Hike
Canada’s jobs report offered enough to support my pre-existing call for a further Bank of Canada hike next week in the context of the full suite of evidence to date and a fuller preview will be offered in the Global Week Ahead later today. The details behind the impressive 60k gain in employment were robust and mildly dented by cooler wage growth following a strong prior month. Job growth exceeded consensus and my estimate that was nevertheless the second highest out there. Chart 1 provides several highlights. The market reaction was somewhat dented by the softer than expected US payrolls figure albeit with ... (full story)