Canada Remains On The Right Track

Note too that the Canadian jobs market has bounced back more strongly than in the US with employment just 2.4ppt below its pre-pandemic peak versus 5.4ppt in the case of the US. With inflation moving above target the Bank of Canada remains on track to taper its weekly QE asset purchases for the third time in July and hike rates in 2H22.

Canada employment levels versus the US

Source: Macrobond, ING

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Disclaimer: This publication has been prepared by the Economic and Financial Analysis Division of ING Bank N.V. (“ING”) solely for information purposes without regard to any ...

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