top of page
  • Frank Tian

Canada Rate Decision - September

Updated: Sep 26, 2022

🇨🇦 Canada Rate Decision Today

As the market expected, BoC hiked the rate by another 75 bps,

in an effort to bring down inflation further.

🟦 This brings the cumulative rate hike this year to 300 bps.

🟦 July inflation down to 7.6% Y/Y vs. 8.1% in June.

🟦 July average hourly wages: +5.2% Y/Y.

The strong employment market offers the cushion for a higher rate. The unemployment rate is still below the pre-pandemic level.

🟩 June # of job vacancies remains above 1.0 M

🟩 July jobs dropped slightly: -31, 000 or -0.2% M/M

🟩 July unemployment rate unchanged at 4.9% (vs. 5.7% in Feb 2020)

Consumer confidence slowly rebounds from the bottom.

🟧 Sept consumer confidence (Bloomberg-Nanos): +1.0 points M/M to 47.66

🔹If you enjoy this post, consider receiving content like this in your inbox


Recent Posts

See All

Effects of Fed's 10 Rate Hikes

The Fed has handed out 10 rate hikes, with a possible 11th next month. What are the effects of the fastest rate hikes, so far? [US Macro parameter: Mar 2022 vs. May 2023/latest] 📍Inflation: 8.5% vs.


bottom of page