Flaunt Weekly
EntertainmentCanada: Job numbers offer plenty of reason for the BoC to leave the door open to future rate hikes – CIBC
Canada: Job numbers offer plenty of reason for the BoC to leave the door open to future rate hikes – CIBC

Canada: Job numbers offer plenty of reason for the BoC to leave the door open to future rate hikes – CIBC

Analysts at CIBC point out that the February Canadian employment report wasn’t as dramatic as January’s surge, but a slightly above consensus employment gain is another sign that the Canadian economy has more momentum to start 2023 than had initially been expected.

Less drama, still solid momentum

“Although employment growth wasn’t as dramatic this month as it has been in the recent past, the underlying trend remains stronger than what would normally be justified by the pace of GDP. Because of that, we still expect to see some softer employment figures and a gradual rise in the unemployment rate throughout the balance of this year, particularly as economic activity slows further with the lagged impact of past interest rate hikes.”

“For now the still historically low unemployment rate and strong wage growth will keep the Bank of Canada leaning towards future rate hikes, although we still don’t think the data will be strong enough for policymakers to actually move again.”

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

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.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Read More

Greg Aftayev is a Journalist at Flaunt Weekly Covering Tech News.

Magazine made for you.