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Reuters — Economy — Inflation — Macro Matters — Monetary Policy — Interest Rates

Canada Feb job gains surprisingly strong, upping pressure for higher rates

Canada beat expectations by adding 21,800 jobs in February, putting pressure on the central bank to consider another rate hike. Inflation eased to 5.9% in January, forecast to slow to 3% by mid-year.

1 min read
  • Canada added 21,800 jobs in February, beating expectations of 10,000.
  • Jobless rate held steady at 5.0%, average hourly wage for permanent employees rose 5.4%.
  • Money markets see a 65% chance that the Bank of Canada will raise interest rates this year.
  • Bank of Canada left its key overnight rate on hold on Wednesday, watching economic data.
  • Inflation eased to 5.9% in January, forecast to slow to 3% by mid-year.
Canada Feb job gains surprisingly strong, upping pressure for higher rates
The Canadian economy beat expectations by adding 21,800 jobs in February, putting pressure on the central bank to consider another rate hike after saying it wanted end its year-long tightening campaign, data showed on Friday.
Reuters

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