Momentum in the Canadian economy is spurring speculation that a rate hike is on the way, but economists don't expect the Bank of Canada to pull the trigger this week.
Momentum in the Canadian economy is spurring speculation that a rate hike is on the way, but economists don't expect the Bank of Canada to pull the trigger this week.
Even the housing market, which was the first to be hit by rising interest rates, appears to have levelled off as prices rise again. Orlando said the data suggests a resurgence in growth, rather than a slowdown, especially given consumer spending rebounded during the first quarter. "It's going to be a very close call, ultimately, I think they'll want to maybe accumulate a little bit more data," Jean said.
Chief among the central bank's concerns is the Canadian labour market, which has remained remarkably strong. In April, the unemployment rate held steady at five per cent for a fifth consecutive month. That's just above the all-time low of 4.9 per cent reached last summer.
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