Last week the Canadian economy added 66,600 jobs in October, marking a second consecutive month of surprise employment gains as tariffs otherwise slow down economic activity. The employment increase helped bring down the jobless rate to 6.9%, whereas analysts were expecting the unemployment rate to hold steady at 7.1%, and for the economy to shed a modest 5,000 jobs. Taken together, the last two months data suggests the Canadian economy is now stabilising post the release of the economically damaging tariffs.
- Similar to Australia Canadian credit markets are no longer looking for rate cuts over the next 12-months.
