Canada set to cut rates, given soft labour market – economists
The Bank of Canada is likely to cut rates at its meeting on September 17 due to the country’s worsening labour market, experts tell Central Banking.
On September 5, Statistics Canada released figures showing that employment had fallen by 66,000 in August, and said a decline in part-time work was largely responsible.
The statistics body also said that Canada’s unemployment rate that month stood at 7.1%. Philip Cross, a former chief economic analyst at Statistics Canada, says that if the rate were
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