- Analytics
- News and Tools
- Market News
- Canada: No big surprises in the employment report, BoC to hike by 50 bps next week – CIBC
Canada: No big surprises in the employment report, BoC to hike by 50 bps next week – CIBC
On Friday, the Canadian employment report showed better-than-expected numbers. The Loonie fell against the US Dollar but rose against its other rivals. Analysts at CIBC point out that the report supports their view that the Bank of Canada will increase rates by 50 bps next week, before pausing in 2023.
Key Quotes:
“After a roller coaster few months, the Canadian labour market moved sideways in November. The 10.1K job gain was in line with consensus expectations, as gains in full-time jobs were almost fully offset by losses in part-time employment. Looking through the volatility inherent to this series, the Canadian labour market has largely stood still over the past 6 months, with average gains of just over 4K a month.”
“There were no big surprises in this report. Therefore, and given the low unemployment rate, composition of employment changes and strong and stable wage growth, we continue to expect the Bank of Canada to deliver another 50 bps hike next week, before pausing in 2023. There's not a huge difference, however, between a one-off 50 basis point move and the most likely alternative, two 25 bps hikes in succession, in terms of what it would mean for the economy.”
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
