The central bank has said future rate decisions will be based on economic data.
OTTAWA — The Canadian labour market is showing some signs of softening as the unemployment rate rises and wage growth slows, but with another solid job gain in June, forecasters are still expecting an interest rate hike by the Bank of Canada next week.
"The reason the unemployment rate can rise alongside historically strong employment growth is that population growth continues to set new records — including an 84k monthly increase in June," wrote RBC assistant chief economist Nathan Janzen in a note to clients. "Overall, the job growth that we saw this month puts this report on the positive side, just not anything that we should get excited about," said Brendon Bernard, a senior economist at hiring website Indeed.
"The June labour market data was mixed but shouldn't be enough to prevent the Bank of Canada from following through with a second straight 25 basis point interest rate hike at the next policy decision next week," Janzen wrote. However, Statistics Canada said wage growth also softened last month, rising 4.2 per cent from a year ago. That's compared with a year-over-year gain of 5.1 per cent in May.
France Dernières Nouvelles, France Actualités
Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.
Canada's job gains triple forecasts, strengthening case for Bank of Canada rate hikeCanada’s economy gained 60,000 jobs in June as the unemployment rate rose to 5.4%. Read more
Lire la suite »
Toronto housing market slips in June as Bank of Canada decision loomsToronto home sales dip on interest rate uncertainty and dearth of listings, says Toronto Regional Real Estate Board. Read more
Lire la suite »
Posthaste: Bank of Canada rate hike 'at best unnecessary — at worst a mistake,' says CIBCFurther Bank of Canada interest rate hikes would be \u0027at best unnecessary, and at worst a mistake,\u0027 says CIBC economist. Read more
Lire la suite »
Posthaste: Bank of Canada rate hike 'at best unnecessary — at worst a mistake,' says CIBCFurther Bank of Canada interest rate hikes would be \u0027at best unnecessary, and at worst a mistake,\u0027 says CIBC economist. Read more
Lire la suite »
Posthaste: Bank of Canada rate hike 'at best unnecessary — at worst a mistake,' says CIBCFurther Bank of Canada interest rate hikes would be \u0027at best unnecessary, and at worst a mistake,\u0027 says CIBC economist. Read more
Lire la suite »
Toronto housing market slips in June as Bank of Canada decision loomsToronto home sales dip on interest rate uncertainty and dearth of listings, says Toronto Regional Real Estate Board. Read more
Lire la suite »