Canada: No big surprises in the employment report, BoC to hike by 50 bps next week – CIBC – by MSalordFX Canada USDCAD BOC Banks
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.“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.
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