The surprise fall in employment in June appears to reflect seasonal effects and, with wage growth surging to 5.2% y/y, the Bank of Canada will follow through next week on its hint of a larger 75 bp rate hike.
Canada Drop-In (13th July): We’re holding a briefing on the Bank of Canada decision shortly after the Wednesday 13th policy announcement. Register to join our discussion about how fast and far rates will rise, housing market risks and the outlook for the loonie. Register now.
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