The BoC held the line on rates this morning, and nobody had to feign astonishment. Heading into the decision, overnight swaps were pricing a 94% chance of no move, leaving the remaining 6% for the people who still bet on lottery tickets. "Employment has shown solid gains in the

Sometimes, all it takes is one report to violently reset market expectations. Today, we witnessed just that. Canada’s jobs report left Bay Street forecasts looking like a misprint. It was excellent data for growth fans, but rough news for low-rate fans.

💡See also: Carney’s Budget Passes, And Housing Starts Pass Out As you might have recently read, Scotiabank is calling for a rate hike in the back half of next year. It's a spirited call, albeit a shot-in-the-dark one, given so many things could radically alter the BoC&

The BoC just gave the economy another 25-basis-point energy shot. That means Canada's benchmark prime rate will now ease to 4.45%, effective tomorrow. It’ll mark the lowest prime rate since June 2022. Moreover, if leading variable rates track prime lower, they'll become the easiest