BOC December rate hike odds drop as unemployment rises

Swap markets have adjusted the likelihood of a Bank of Canada (BOC) rate hike in December, as the probability has decreased from 40% to approximately 32%. This shift follows the release of employment data indicating a stagnant job market and a slight rise in unemployment. The market’s response suggests that participants see these economic indicators as reducing the chance of an imminent rate hike by the BOC. The central bank had previously raised its policy rate in October, marking the first increase since mid-2023. Observers will be keenly watching upcoming economic data releases, particularly those related to inflation and GDP, which could further influence market pricing of BOC rate moves.

BeCrypto News shows a short excerpt and links to the publisher. The full report belongs to Crypto Briefing.