OTTAWA, Dec 6 (Reuters) - Canada's unemployment rate rose more than expected to 6.8% in November, a near-eight-year high excluding the pandemic years, even as the economy added a net 50,500 jobs, data showed on Friday, boosting chances of a large interest rate cut next week. Currency markets increased the bets for a rate cut of 50 basis points next week to 68% from 55% before the employment report was released. A rate reduction of 25 basis points is fully priced in.
https://www.kitco.com/news/off-the-wire/2024-12-06/canadas-jobless-rate-jumps-68-bets-50-bps-rate-cut-next-week
OTTAWA, Dec 6 (Reuters) - Canada's unemployment rate rose more than expected to 6.8% in November, a near-eight-year high excluding the pandemic years, even as the economy added a net 50,500 jobs, data showed on Friday, boosting chances of a large interest rate cut next week. Currency markets increased the bets for a rate cut of 50 basis points next week to 68% from 55% before the employment report was released. A rate reduction of 25 basis points is fully priced in. https://www.kitco.com/news/off-the-wire/2024-12-06/canadas-jobless-rate-jumps-68-bets-50-bps-rate-cut-next-week
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Canada's jobless rate jumps to 6.8%; bets up for 50 bps rate cut next week
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