Traders pare back expectations for Bank of Canada rate cut in June
The Canadian labour market rebounded in April by adding a whopping number of new positions, a result that potentially muddies the picture as the Bank of Canada considers whether to lower interest rates in June.
The results suggest employers are willing and able to take on more workers, despite the financial pressures resulting from higher interest rates. In April, employers mostly added part-time positions, which rose by about 50,000. The private sector accounted for most of the employment growth, although there were strong gains in the public sector, as well.
The Bank of Canada will be encouraged that wage growth – an upside risk for inflation – is calming down. Average hourly wages grew at an annual pace of 4.7 per cent in April, down from 5.1 per cent in March. Tighter monetary policy is having wide-ranging effects on the economy, including higher debt-servicing costs for governments and households. Many homeowners are facing the prospect of sharply higher payments when they renew their mortgages in the coming years, the extent of which depends on the path of interest rates.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Gold market analysis for April 30 - key intra-day price entry levels for active tradersThe Kitco News Team brings you the latest news, videos, analysis and opinions regarding Precious Metals, Crypto, Mining, World Markets and Global Economy.
Read more »
Gold market analysis for April 29 - key intra-day price entry Levels for active tradersThe Kitco News Team brings you the latest news, videos, analysis and opinions regarding Precious Metals, Crypto, Mining, World Markets and Global Economy.
Read more »
Gold market analysis for April 26 - key intra-day price entry levels for active tradersThe Kitco News Team brings you the latest news, videos, analysis and opinions regarding Precious Metals, Crypto, Mining, World Markets and Global Economy.
Read more »
Gold market analysis for April 25 - key intra-day price entry levels for active tradersThe Kitco News Team brings you the latest news, videos, analysis and opinions regarding Precious Metals, Crypto, Mining, World Markets and Global Economy.
Read more »
Gold market analysis for April 24 - key intra-day price entry levels for active tradersThe Kitco News Team brings you the latest news, videos, analysis and opinions regarding Precious Metals, Crypto, Mining, World Markets and Global Economy.
Read more »
Gold market Analysis for April 23 - key intra-day price entry levels for active tradersThe Kitco News Team brings you the latest news, videos, analysis and opinions regarding Precious Metals, Crypto, Mining, World Markets and Global Economy.
Read more »