Market Intelligence

Canada shed 66,000 jobs in July after losing 41,000 in June. Year-to-date in 2025, employment in Canada is down by 39,000 jobs--almost all of them (94%) full-time positions.

The Canadian economy contracted at an annualized rate of 1.6% in Q2, driven by a decline in business investment and exports, two casualties of US-imposed tariffs.

Weak economic data has the Bank of Canada primed to cut its policy interest rate by 25 basis points on September 17th, from 2.75% to 2.50%. The road is also paved for further rates cuts at the Bank's final two meetings of the year in October and in December.