Bank of Canada December rate hike chances drop after jobs report
Photo: Crypto Briefing
Swaps data indicates that the probability of the Bank of Canada raising interest rates in December has decreased to about 32% from a previous 40%, following the latest jobs report. The report from Statistics Canada showed a rise in unemployment and minimal changes in employment, influencing market sentiment. This development comes after the Bank of Canada recently raised its policy rate by 25 basis points in October, marking the first increase since July 2023. Upcoming economic indicators, such as inflation and GDP data, could further influence rate hike expectations.
Source: Crypto Briefing
