Canada\u0027s jobs gain raised speculation that the Bank of Canada may have to keep interest rates higher for longer. Read more
One way to gauge the health of this report is to look at the employment to population ratio, said BMO chief economist Douglas Porter — ” Canada’s employment rate of 62.5 per cent matches the strongest read since the days before the Global Financial Crisis.”
The Bank of Canada has raised interest rates to 4.5 per cent over the past 11 months to tame inflation, which, at 6.3 per cent in December, is still well above its target of two per cent. On Jan. 25, the Bank said itMarkets reacted quickly to Friday’s “blowout” job numbers, with Canada’s 5-year yield rising 11 basis points. McLister said in his MortgageLogic.
“Cooling wage pressures were the only factor in today’s report that augurs well for further easing of inflation,” Desjardins economist Marc Desormeaux said in a note.Article contentto risk its credibility and end the pause just on a “few inflation-unfriendly data points,” and economists agree. Moreover, the slowdown central banks are trying to engineer to cool inflation could still happen, and according to some indicators probably will.Article content
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