Statistics Canada will release the latest insight into the employment market Friday and analysts are not optimistic. At best they are calling for the numbers to be flat but there could be a decline in the number of new jobs and unemployment could edge higher. With sentiment in the labour market lower there are more analysts predicting that the Bank of Canada will need to make a second cut in interest rates this year. Some are even talking of a rate cut this month with the next decision due next week. As the world’s financial markets await the fall-out from Greece’s decision to reject a reform deal it could further intensify pressure on the BoC to make a pre-emptive strike to bolster weakness in the Canadian economy.
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