Canada’s labour market added a net 37,300 jobs in January and the unemployment rate fell slightly to 5.7 per cent, according to Statistics Canada, data that may support keeping the Bank of Canada on the sidelines for longer amid expectations for a rate cut.
"As a result, we're still looking for 125 basis points worth of rate cuts this year, just 25 basis points less than before."Today's data suggest that the Bank won't be in a rush to cut interest rates, and we maintain our expectation for a first move in June," he wrote. "A decent job gain, a slide in the jobless rate, and persistent 5% wage growth are hardly the stuff of an urgent call for rate cuts," BMO chief economist Douglas Porter wrote in a research note on Friday.Pepsi reports, Cloudflare surges on earning: Yahoo Finance Live
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