{"id":49015,"date":"2024-07-08T12:06:19","date_gmt":"2024-07-08T12:06:19","guid":{"rendered":"https:\/\/www.pantheregroup.com\/2024\/07\/08\/bank-of-canada-rate-cut-obstacles-are-fading-except-for-this-one\/"},"modified":"2024-07-08T12:06:19","modified_gmt":"2024-07-08T12:06:19","slug":"bank-of-canada-rate-cut-obstacles-are-fading-except-for-this-one","status":"publish","type":"post","link":"https:\/\/www.pantheregroup.com\/2024\/07\/08\/bank-of-canada-rate-cut-obstacles-are-fading-except-for-this-one\/","title":{"rendered":"Bank of Canada rate cut obstacles are fading \u2014 except for this one"},"content":{"rendered":"<p> \n<\/p>\n<div id=\"\">\n<header aria-label=\"Beginning of Article\" class=\"article-header article-header--story\">\n<nav aria-label=\"Breadcrumb\" class=\"breadcrumbs\" data-aqa=\"nav-breadcrumb\">\n<p>Breadcrumb Trail Links<\/p>\n<ol class=\"breadcrumbs__items list-unstyled\">\n<li class=\"breadcrumbs__item\">News<\/li>\n<\/ol>\n<\/nav>\n<div class=\"article-header__detail\">\n<div class=\"article-header__detail__texts\">\n<p class=\"article-subtitle\">There is one thing that could be a fly in the ointment on July 24<\/p>\n<div class=\"article-meta\">\n<p><span class=\"published-date__since\">Published Jul 08, 2024<\/span> \u00a0\u2022\u00a0 <span class=\"published-date__word-count\">4 minute read<\/span><\/p>\n<div class=\"article-meta__bottom\">\n<div class=\"bookmark-wrapper\">\n<div class=\"popover\" data-aqa=\"popover\" data-click-to-appear=\"True\" data-container=\"\" data-container-offset=\"\" data-no-style=\"\" data-popover-component=\"\" data-position=\"top\" data-sticky=\"\" data-tail-offset=\"200\" data-tail-position=\"right\"><button class=\"popover__trigger bookmark-button\"><span class=\"save-article-button save-article-button--default\" title=\"Save article\" data-article-id=\"2754d3a7-8b49-4aca-98c6-35f84e1bbcb9\" data-evt-skip-click=\"true\"\/><\/button><\/p>\n<div aria-describedby=\"popover-desc-popover-bookmark\" class=\"popover__content\" hidden=\"\" role=\"dialog\">\n<div class=\"popover__content__wrapper\">\n<div class=\"popover__content__text\" id=\"popover-desc-popover-bookmark\">\n<div class=\"bookmark__popover__content\">\n<p>You can save this article by registering for free here. Or sign-in if you have an account.<\/p>\n<\/div>\n<\/div>\n<p><button class=\"popover__content__close\" data-evt-skip-click=\"true\" title=\"Close\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" xmlns:xlink=\"http:\/\/www.w3.org\/1999\/xlink\" viewbox=\"0 0 12 12\" class=\"icon--close\" height=\"12\" version=\"1.1\" width=\"12\"><polygon points=\"12 0.95 11.05 0 6 5.05 0.95 0 0 0.95 5.05 6 0 11.05 0.95 12 6 6.95 11.05 12 12 11.05 6.95 6\"\/><\/svg><\/button><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<figure class=\"featured-image\" data-aqa=\"featured-image\"><picture class=\"featured-image__ratio\"><source media=\"(min-width: 1200px)\" srcset=\"https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/07\/bank-of-canada-0708-ph.jpg?quality=90&amp;strip=all&amp;w=564&amp;h=423&amp;type=webp&amp;sig=aNL8Hd-lTkTsjkjeAON42Q,&#10;            https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/07\/bank-of-canada-0708-ph.jpg?quality=90&amp;strip=all&amp;w=1128&amp;h=846&amp;type=webp&amp;sig=4oisup7HKCnmzW93_CXb_Q 2x\" type=\"image\/webp\"><source media=\"(min-width: 1200px)\" srcset=\"https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/07\/bank-of-canada-0708-ph.jpg?quality=90&amp;strip=all&amp;w=564&amp;h=423&amp;type=jpg&amp;sig=puLnwwvnM5ZxqdnCvtR3hA,&#10;                https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/07\/bank-of-canada-0708-ph.jpg?quality=90&amp;strip=all&amp;w=1128&amp;h=846&amp;type=jpg&amp;sig=IhaFROvlml21HCiyriFu9Q 2x\" type=\"image\/jpeg\"><source media=\"(min-width: 768px)\" srcset=\"https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/07\/bank-of-canada-0708-ph.jpg?quality=90&amp;strip=all&amp;w=472&amp;h=354&amp;type=webp&amp;sig=i2CFli8N3rcMb0YOkImc8g,&#10;            https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/07\/bank-of-canada-0708-ph.jpg?quality=90&amp;strip=all&amp;w=944&amp;h=708&amp;type=webp&amp;sig=WboCuXs5Zhzy3zaxvY2g2A 2x\" type=\"image\/webp\"><source media=\"(min-width: 768px)\" srcset=\"https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/07\/bank-of-canada-0708-ph.jpg?quality=90&amp;strip=all&amp;w=472&amp;h=354&amp;type=jpg&amp;sig=E6mdMd3MeDNyCqarPFfXdQ,&#10;                https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/07\/bank-of-canada-0708-ph.jpg?quality=90&amp;strip=all&amp;w=944&amp;h=708&amp;type=jpg&amp;sig=bFFn_SM5jeWyGxtn4bdCOg 2x\" type=\"image\/jpeg\"><source media=\"(max-width: 767px)\" srcset=\"https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/07\/bank-of-canada-0708-ph.jpg?quality=90&amp;strip=all&amp;w=288&amp;h=216&amp;type=webp&amp;sig=NNZNf-7anpl46WPusBMIuA,&#10;            https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/07\/bank-of-canada-0708-ph.jpg?quality=90&amp;strip=all&amp;w=576&amp;h=432&amp;type=webp&amp;sig=C5kuxsTKHfGKYV6IKr4ofA 2x\" type=\"image\/webp\"><\/source><\/source><\/source><\/source><\/source><\/picture><figcaption class=\"featured-image__caption image-caption\"><span class=\"caption\">Most of the forces against Bank of Canada interest rate cuts are fading. <\/span> <span class=\"credit\">Photo by Postmedia<\/span><\/figcaption><\/figure>\n<\/div>\n<\/header>\n<section class=\"article-content__content-group article-content__content-group--story\">\n<h2 class=\"visually-hidden\">Article content<\/h2>\n<figure class=\"embedded-image\" data-aqa=\"embed-image\"><picture class=\"embedded-image__ratio\"><source data-srcset=\"https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2023\/01\/fp-posthaste-LOGO-01132023.jpg?quality=90&amp;strip=all&amp;w=564&amp;type=webp&amp;sig=6lLqOxMPWrqdT6faIWDm6w,&#10;            https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2023\/01\/fp-posthaste-LOGO-01132023.jpg?quality=90&amp;strip=all&amp;w=1128&amp;type=webp&amp;sig=n-qKTtcvVFBRTZzMHFb2pA 2x\" media=\"(min-width: 1200px)\" srcset=\"data:,1w\" type=\"image\/webp\"><source data-srcset=\"https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2023\/01\/fp-posthaste-LOGO-01132023.jpg?quality=90&amp;strip=all&amp;w=564&amp;type=jpg&amp;sig=BKFnr_P1Bw7Q4XWG_Up3GQ,&#10;                https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2023\/01\/fp-posthaste-LOGO-01132023.jpg?quality=90&amp;strip=all&amp;w=1128&amp;type=jpg&amp;sig=GTjg1JD8glfowCEvrg7zTg 2x\" media=\"(min-width: 1200px)\" srcset=\"data:,1w\" type=\"image\/jpeg\"><source data-srcset=\"https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2023\/01\/fp-posthaste-LOGO-01132023.jpg?quality=90&amp;strip=all&amp;w=472&amp;type=webp&amp;sig=9kNx8K5TtrrlWGwYyxucxQ,&#10;            https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2023\/01\/fp-posthaste-LOGO-01132023.jpg?quality=90&amp;strip=all&amp;w=944&amp;type=webp&amp;sig=tHeomvOxi6gManmKhWorsQ 2x\" media=\"(min-width: 768px)\" srcset=\"data:,1w\" type=\"image\/webp\"><source data-srcset=\"https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2023\/01\/fp-posthaste-LOGO-01132023.jpg?quality=90&amp;strip=all&amp;w=472&amp;type=jpg&amp;sig=nL0azXVy5fYIkpc6I50wAw,&#10;                https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2023\/01\/fp-posthaste-LOGO-01132023.jpg?quality=90&amp;strip=all&amp;w=944&amp;type=jpg&amp;sig=tktJVw7wfmOs0qSsEBIa5w 2x\" media=\"(min-width: 768px)\" srcset=\"data:,1w\" type=\"image\/jpeg\"><source data-srcset=\"https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2023\/01\/fp-posthaste-LOGO-01132023.jpg?quality=90&amp;strip=all&amp;w=288&amp;type=webp&amp;sig=YxfTvFOWkhsACWs7r_8MkA,&#10;            https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2023\/01\/fp-posthaste-LOGO-01132023.jpg?quality=90&amp;strip=all&amp;w=576&amp;type=webp&amp;sig=TcF-YBUk1AWMm-zyN3Pu_g 2x\" media=\"(max-width: 767px)\" srcset=\"data:,1w\" type=\"image\/webp\"><img decoding=\"async\" class=\"embedded-image__image lazyload\" data-src=\"https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2023\/01\/fp-posthaste-LOGO-01132023.jpg?quality=90&amp;strip=all&amp;w=288&amp;sig=hKuq-wskY5lKlkFQgM-QTg\" data-srcset=\"https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2023\/01\/fp-posthaste-LOGO-01132023.jpg?quality=90&amp;strip=all&amp;w=288&amp;sig=hKuq-wskY5lKlkFQgM-QTg,&#10;                https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2023\/01\/fp-posthaste-LOGO-01132023.jpg?quality=90&amp;strip=all&amp;w=576&amp;sig=tP-X7ZqT8GHw4xLHdd3KpA 2x\" src=\"https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2023\/01\/fp-posthaste-LOGO-01132023.jpg?quality=5&amp;strip=all&amp;w=100&amp;sig=EcCPhKPRlZdph65uTZxLMA\" alt=\"\" height=\"320\" loading=\"lazy\" width=\"760\"\/><\/source><\/source><\/source><\/source><\/source><\/picture><\/figure>\n<p data-async=\"\">When the Bank of Canada made its first interest rate cut last month there were three risks economists cited that could stall the cycle \u2014 the Canadian dollar, the housing market and wage growth.<\/p>\n<p>Douglas Porter, chief economist at BMO Capital Markets, checked in on these potential stumbling blocks on Friday in his weekly column Talking Points to determine how we were doing.<\/p>\n<\/section>\n<div class=\"ad__section-border article-content__ad-group ad_counter_2\">\n<section aria-describedby=\"advertisment8991180565392223701005866427744256\" class=\"ad\">\n<p>Advertisement 2<\/p>\n<div class=\"ad__container\">\n<div class=\"ad__inner\" id=\"ad__inner-2\">\n<div class=\"ad__inner__container\" data-ad=\"[[6,6],[1200,250],[1200,90],[970,90],[970,250],[728,90],[300,250]]\" data-ad-interscroller=\"6x6\" data-ad-loc=\"2\" data-ad-mobile=\"[[6,6],[320,50],[300,50],[300,250],[300,600]]\" data-aqa=\"advertisement\" id=\"ad-2\" style=\"--desktopHeight:250px;--mobileHeight:600px\">\n<div aria-hidden=\"true\" class=\"ad__placeholder\">\n<p>This advertisement has not loaded yet, but your article continues below.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n<\/div>\n<div class=\"article-block article-block-bg article-content__sign-in-group hidden\" data-aqa=\"identity-sign-in\" data-async=\"\" id=\"article-block\">\n<section class=\"row\">\n<header class=\"identity-intro col-xs-12 col-md-6 flex-justify-center\">\n<div class=\"col-xs-12 col-sm-10 col-md-10\"><img decoding=\"async\" alt=\"Financial Post\" class=\"market-logo\" height=\"37\" loading=\"lazy\" src=\"https:\/\/dcs-static.gprod.postmedia.digital\/16.4.5\/websites\/images\/identity\/logo-identity-fp.svg\" width=\"280\"\/><\/p>\n<div class=\"intro-body__premium hidden\">\n<p>THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLY<\/p>\n<p class=\"identity-intro__description\">Subscribe now to read the latest news in your city and across Canada.<\/p>\n<ul class=\"list-unstyled list-checkmark\">\n<li>Exclusive articles from Barbara Shecter, Joe O&#8217;Connor, Gabriel Friedman, Victoria Wells and others.<\/li>\n<li>Daily content from Financial Times, the world&#8217;s leading global business publication.<\/li>\n<li>Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.<\/li>\n<li>National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.<\/li>\n<li>Daily puzzles, including the New York Times Crossword.<\/li>\n<\/ul>\n<\/div>\n<div class=\"intro-body__register hidden\">\n<p>SUBSCRIBE TO UNLOCK MORE ARTICLES<\/p>\n<p class=\"identity-intro__description\">Subscribe now to read the latest news in your city and across Canada.<\/p>\n<ul class=\"list-unstyled list-checkmark\">\n<li>Exclusive articles from Barbara Shecter, Joe O&#8217;Connor, Gabriel Friedman, Victoria Wells and others.<\/li>\n<li>Daily content from Financial Times, the world&#8217;s leading global business publication.<\/li>\n<li>Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.<\/li>\n<li>National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.<\/li>\n<li>Daily puzzles, including the New York Times Crossword.<\/li>\n<\/ul>\n<\/div>\n<div class=\"intro-body__anonymous\">\n<p>REGISTER \/ SIGN IN TO UNLOCK MORE ARTICLES<\/p>\n<p class=\"identity-intro__description\">Create an account or sign in to continue with your reading experience.<\/p>\n<ul class=\"list-unstyled list-checkmark\">\n<li>Access articles from across Canada with one account.<\/li>\n<li>Share your thoughts and join the conversation in the comments.<\/li>\n<li>Enjoy additional articles per month.<\/li>\n<li>Get email updates from your favourite authors.<\/li>\n<\/ul>\n<\/div>\n<\/div>\n<\/header>\n<div class=\"identity-screen m-x-0 p-x-0 col-xs-12 col-md-6 flex-justify-center flex-align-center\" aria-live=\"assertive\">\n<section class=\"sail\" data-account-id=\"b9d3df2fccd108b5eff3c44f573b2cd6\" data-sailthru-personalization-engine=\"\" data-sailthru-personalization-engine-component=\"\"\/>\n<div class=\"m-x-0 p-x-0 col-xs-12 col-sm-6 col-md-12 flex-align-justify-center\" data-auth-component=\"\" id=\"auth-screen-form\">\n<div class=\"identity-screen-form--active w-full flex-align-justify-center\">\n<div class=\"identity-screen-form identity-screen__content w-full\">\n<h2 class=\"blocker-title\">Sign In or Create an Account<\/h2>\n<p><span class=\"identity-divider__line\"\/><span class=\"identity-divider__text\">or<\/span><span class=\"identity-divider__line\"\/><\/p>\n<\/div>\n<\/div>\n<\/div>\n<footer class=\"identity-footer identity-screen__content m-x-0 p-x-0 col-sm-6 col-md-12\"\/><\/div>\n<\/section>\n<\/div>\n<section class=\"article-content__content-group article-content__content-group--story\">\n<p>Article content<\/p>\n<p>\u201cTo quote Mr. Loaf: Two out of three ain\u2019t bad \u2026 but is it good enough,\u201d said Porter.<\/p>\n<p data-async=\"\">The big concern around the Canadian dollar was that the Bank of Canada moving ahead of the United States Federal Reserve would cause the currency to plunge.<\/p>\n<p>Yet in recent weeks the loonie has been \u201cremarkably well behaved,\u201d said Porter. After a soft start in the first three months of the year, the loonie appears to have found some stability at around 73.5 US cents. A weaker greenback as the U.S. economy softens and the prospect of Fed rate cuts have helped steady the currency.<\/p>\n<p data-async=\"\">Nor has the housing market flared up again as some predicted. Porter said real estate data from Canada\u2019s major cities last week showed little pickup in activity even after the interest rate cut last month.<\/p>\n<p>\u201cThe data support the initial view that it was actually sellers who stepped up, not buyers, after the bank moved,\u201d he said.<\/p>\n<p>Sales were down by the double digits in many cities from a year ago and big increases to inventories are shifting the balance in buyers\u2019 favour.<\/p>\n<p>\u201cWhile sellers and the real estate industry may not like it, the reality is that a sleepy housing market may be exactly what policymakers would like to see at this point, and it also holds out the tantalizing potential of some improvement in extremely strained affordability,\u201d he said.<\/p>\n<\/section>\n<div class=\"js-widget-content article-content__widget-group article-content__widget-group--content-slot22\">\n<section class=\"newsletter-widget__new-story-page fp-execsummary background--primary-light-gradient\" aria-labelledby=\"FinancialPostPosthaste467266637204304353924093067657216\" data-account-id=\"b9d3df2fccd108b5eff3c44f573b2cd6\" data-aqa=\"widget-newsletter\" data-newsletter=\"single\" data-newsletter-component=\"\" data-target-list=\"FP_ExecSummary\" data-widget=\"newsletter\">\n<div class=\"newsletter-new-story-page-template\">\n<div class=\"newsletter-widget__header__new-story-page\">\n<div class=\"newsletter-widget__banner__new-story-page\"><img decoding=\"async\" alt=\"Posthaste\" loading=\"lazy\" src=\"https:\/\/dcs-static.gprod.postmedia.digital\/16.4.5\/websites\/images\/newsletters\/icon-fp-posthaste.svg\"\/><\/div>\n<div>\n<p>Posthaste<\/p>\n<p class=\"newsletter-widget__text__new-story-page\">Breaking business news, incisive views, must-reads and market signals. Weekdays by 9 a.m.<\/p>\n<\/div>\n<\/div>\n<div class=\"newsletter-widget__body__new-story-page\">\n<div class=\"js-replace-main__new-story-page\">\n<p class=\"newsletter-widget__disclaimer__new-story-page text-size--tiny\">By signing up you consent to receive the above newsletter from Postmedia Network Inc.<\/p>\n<\/div>\n<div class=\"js-submit-success\" hidden=\"\" id=\"submitSuccessFP_ExecSummary\">\n<p>Thanks for signing up!<\/p>\n<p class=\"newsletter-widget__text__new-story-page\">A welcome email is on its way. If you don&#8217;t see it, please check your junk folder.<\/p>\n<p class=\"newsletter-widget__text__new-story-page newsletter__feedback--last\">The next issue of Posthaste will soon be in your inbox.<\/p>\n<\/div>\n<p class=\"newsletter-widget__text__new-story-page js-submit-error\" style=\"margin-top: 8px\" hidden=\"\" id=\"submitErrorFP_ExecSummary\">We encountered an issue signing you up. Please try again<\/p>\n<\/div>\n<\/div>\n<\/section>\n<\/div>\n<section class=\"article-content__content-group article-content__content-group--story\">\n<p>Article content<\/p>\n<\/section>\n<div class=\"ad__section-border article-content__ad-group ad_counter_3\">\n<section aria-describedby=\"advertisment7267428491362102707179972093542400\" class=\"ad\">\n<p>Advertisement 3<\/p>\n<div class=\"ad__container\">\n<div class=\"ad__inner\" id=\"ad__inner-3\">\n<div class=\"ad__inner__container\" data-ad=\"[[7,7],[1200,250],[1200,90],[970,90],[970,250],[728,90],[300,250]]\" data-ad-interscroller=\"7x7\" data-ad-loc=\"3\" data-ad-mobile=\"[[7,7],[300,250],[320,50],[300,50]]\" data-aqa=\"advertisement\" id=\"ad-3\" style=\"--desktopHeight:250px;--mobileHeight:250px\">\n<div aria-hidden=\"true\" class=\"ad__placeholder\">\n<p>This advertisement has not loaded yet, but your article continues below.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n<\/div>\n<section class=\"article-content__content-group article-content__content-group--story\">\n<p>Article content<\/p>\n<p data-async=\"\">However, wage growth remains a fly in the ointment. Jobs data out Friday showed that while the labour market had loosened in June, average hourly wages accelerated to 5.4 per cent.<\/p>\n<p>\u201cAs a standalone result, the softening job market raises the odds of a Bank of Canada rate cut. However, wages remain the very definition of sticky, which will give the Bank pause,\u201d said Porter in a note after the data was released.<\/p>\n<p>So how much of a concern is this?<\/p>\n<p>June\u2019s pick-up in wage growth was largely due to base-effects from a low reading a year ago, said Toronto Dominion economist Marc Ercolao.<\/p>\n<p>\u201cStill, it doesn\u2019t take away from the fact wages have been growing at around 5 per cent year-on-year for the past 18-months while productivity dipped over the same period,\u201d he said.<\/p>\n<p data-async=\"\">Wage growth was on the governing council\u2019s mind when it meet last month, deliberations show, but governor Tiff Macklem appeared to soften those concerns in a speech last week.<\/p>\n<p>\u201cThe fact that wages are moderating more slowly than inflation is not surprising; wages tend to lag adjustments in employment,\u201d Macklem said. \u201cGoing forward, we will be looking for wage growth to moderate further.\u201d<\/p>\n<\/section>\n<div class=\"ad__section-border article-content__ad-group ad_counter_4\">\n<section aria-describedby=\"advertisment108865070682020434337032784838656\" class=\"ad\">\n<p>Advertisement 4<\/p>\n<div class=\"ad__container\">\n<div class=\"ad__inner\" id=\"ad__inner-4\">\n<div class=\"ad__inner__container\" data-ad=\"[[1200,250],[1200,90],[970,90],[970,250],[728,90],[300,250]]\" data-ad-loc=\"4\" data-ad-mobile=\"[[320,50],[300,50],[300,250]]\" data-aqa=\"advertisement\" id=\"ad-4\" style=\"--desktopHeight:250px;--mobileHeight:250px\">\n<div aria-hidden=\"true\" class=\"ad__placeholder\">\n<p>This advertisement has not loaded yet, but your article continues below.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n<\/div>\n<section class=\"article-content__content-group article-content__content-group--story\">\n<p>Article content<\/p>\n<p>Is two out of three enough, then?<\/p>\n<p>After Friday\u2019s job numbers, markets are betting on a 60 per cent probability of an interest rate cut on July 24, while a Bloomberg survey suggests the majority of economists expect a hold until Sept. 4.<\/p>\n<p>And there is more data to come.<\/p>\n<p>A crucial inflation reading on July 16 and the Bank of Canada\u2019s own Business Outlook survey will still shape the central bank\u2019s view of whether to cut or hold this month.<\/p>\n<hr\/>\n<p data-async=\"\"><em><strong>\u00a0Sign up here to get Posthaste delivered straight to your inbox.<\/strong><\/em><\/p>\n<hr\/>\n<p><strong><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-1758646\" alt=\"\" height=\"114\" src=\"https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2019\/02\/subhead_leading.png\" width=\"838\"\/><\/strong><\/p>\n<figure class=\"embedded-image\" data-aqa=\"embed-image\"><picture class=\"embedded-image__ratio\"><source data-srcset=\"https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/07\/june-2024-unemployment-rate.jpg?quality=90&amp;strip=all&amp;w=564&amp;type=webp&amp;sig=tmV34MM0tYq7oVcW2weopg,&#10;            https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/07\/june-2024-unemployment-rate.jpg?quality=90&amp;strip=all&amp;w=1128&amp;type=webp&amp;sig=vudzEzZuZnnAQxqgUjlb0g 2x\" media=\"(min-width: 1200px)\" srcset=\"data:,1w\" type=\"image\/webp\"><source data-srcset=\"https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/07\/june-2024-unemployment-rate.jpg?quality=90&amp;strip=all&amp;w=564&amp;type=jpg&amp;sig=CtxOpF5euKTnO17jL1Pnxg,&#10;                https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/07\/june-2024-unemployment-rate.jpg?quality=90&amp;strip=all&amp;w=1128&amp;type=jpg&amp;sig=BSGa7GrfgDZQvckw6dHwig 2x\" media=\"(min-width: 1200px)\" srcset=\"data:,1w\" type=\"image\/jpeg\"><source data-srcset=\"https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/07\/june-2024-unemployment-rate.jpg?quality=90&amp;strip=all&amp;w=472&amp;type=webp&amp;sig=TLfzZdeXthtPoRvJZuPb2A,&#10;            https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/07\/june-2024-unemployment-rate.jpg?quality=90&amp;strip=all&amp;w=944&amp;type=webp&amp;sig=H2udTRAfIv_egGrlLXEkKg 2x\" media=\"(min-width: 768px)\" srcset=\"data:,1w\" type=\"image\/webp\"><source data-srcset=\"https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/07\/june-2024-unemployment-rate.jpg?quality=90&amp;strip=all&amp;w=472&amp;type=jpg&amp;sig=PiOqXFcB0IM5acFiz83q6w,&#10;                https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/07\/june-2024-unemployment-rate.jpg?quality=90&amp;strip=all&amp;w=944&amp;type=jpg&amp;sig=uvTqjwASjvS3IZKvofaCTQ 2x\" media=\"(min-width: 768px)\" srcset=\"data:,1w\" type=\"image\/jpeg\"><source data-srcset=\"https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/07\/june-2024-unemployment-rate.jpg?quality=90&amp;strip=all&amp;w=288&amp;type=webp&amp;sig=g_eZ3gcRr8ojwOxajrq6uQ,&#10;            https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/07\/june-2024-unemployment-rate.jpg?quality=90&amp;strip=all&amp;w=576&amp;type=webp&amp;sig=S1Wybmur56Cmi5yko_ASpg 2x\" media=\"(max-width: 767px)\" srcset=\"data:,1w\" type=\"image\/webp\"><img decoding=\"async\" class=\"embedded-image__image lazyload\" data-src=\"https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/07\/june-2024-unemployment-rate.jpg?quality=90&amp;strip=all&amp;w=288&amp;sig=vdd9qPM0AzSvXQNww_MueQ\" data-srcset=\"https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/07\/june-2024-unemployment-rate.jpg?quality=90&amp;strip=all&amp;w=288&amp;sig=vdd9qPM0AzSvXQNww_MueQ,&#10;                https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/07\/june-2024-unemployment-rate.jpg?quality=90&amp;strip=all&amp;w=576&amp;sig=XpgBomio57kw39j5QFmbfQ 2x\" src=\"https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/07\/june-2024-unemployment-rate.jpg?quality=5&amp;strip=all&amp;w=100&amp;sig=p_Uvzs-u0D9UVIH8cCPIyQ\" alt=\"jobs\" height=\"711\" loading=\"lazy\" width=\"1000\"\/><\/source><\/source><\/source><\/source><\/source><\/picture><figcaption class=\"image-caption\"><span class=\"caption\"> Financial Post<\/span><\/figcaption><\/figure>\n<p data-async=\"\">Canada\u2019s unemployment rate hit 6.4 per cent in June, the highest reading since 2017, outside of the pandemic, data showed Friday.<\/p>\n<p>Much of that increase came from students, whose jobless rate hit 13.5 per cent, the highest since 2014, but layoffs were also up 20 per cent from a year ago, said Nathan Janzen, assistant chief economist for Royal Bank of Canada.<\/p>\n<p>The economy lost about 1,000 jobs after 2,000 part-time positions were added, but 3,000 full-time jobs were lost.<\/p>\n<hr\/>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-1758643\" alt=\"\" height=\"114\" src=\"https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2019\/02\/subhead_breaking.png\" width=\"838\"\/><\/p>\n<figure class=\"embedded-image\"\/>\n<ul>\n<li><strong>Today\u2019s Data:<\/strong> United States consumer credit<\/li>\n<\/ul>\n<hr\/>\n<p><strong><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-3080180\" alt=\"\" height=\"114\" src=\"https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2022\/07\/subhead_marketsam.jpeg\" width=\"838\"\/><\/strong><\/p>\n<figure class=\"embedded-image\" data-aqa=\"embed-image\"><picture class=\"embedded-image__ratio\"><source data-srcset=\"https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/07\/chart-0708.jpg?quality=90&amp;strip=all&amp;w=564&amp;type=webp&amp;sig=qD4VsXo3dHaWJBDlLQvNtQ,&#10;            https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/07\/chart-0708.jpg?quality=90&amp;strip=all&amp;w=1128&amp;type=webp&amp;sig=3fTncg4Fk7susVkjkcl9AA 2x\" media=\"(min-width: 1200px)\" srcset=\"data:,1w\" type=\"image\/webp\"><source data-srcset=\"https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/07\/chart-0708.jpg?quality=90&amp;strip=all&amp;w=564&amp;type=jpg&amp;sig=8MLMDOlaItsBHj9UBb34Rw,&#10;                https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/07\/chart-0708.jpg?quality=90&amp;strip=all&amp;w=1128&amp;type=jpg&amp;sig=9P0NfYVOhLOwX8C0q6Tm8A 2x\" media=\"(min-width: 1200px)\" srcset=\"data:,1w\" type=\"image\/jpeg\"><source data-srcset=\"https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/07\/chart-0708.jpg?quality=90&amp;strip=all&amp;w=472&amp;type=webp&amp;sig=hf_g2PG-8HzlyL8457IBUw,&#10;            https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/07\/chart-0708.jpg?quality=90&amp;strip=all&amp;w=944&amp;type=webp&amp;sig=yL48IwGete-lh6nWv8RYdw 2x\" media=\"(min-width: 768px)\" srcset=\"data:,1w\" type=\"image\/webp\"><source data-srcset=\"https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/07\/chart-0708.jpg?quality=90&amp;strip=all&amp;w=472&amp;type=jpg&amp;sig=3z8WiX5c0mqJ6RZ8G4-gnw,&#10;                https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/07\/chart-0708.jpg?quality=90&amp;strip=all&amp;w=944&amp;type=jpg&amp;sig=sXFqIKiib-6CmtYor3I5hg 2x\" media=\"(min-width: 768px)\" srcset=\"data:,1w\" type=\"image\/jpeg\"><source data-srcset=\"https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/07\/chart-0708.jpg?quality=90&amp;strip=all&amp;w=288&amp;type=webp&amp;sig=1GDp0pZajMHg7nv8226SBg,&#10;            https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/07\/chart-0708.jpg?quality=90&amp;strip=all&amp;w=576&amp;type=webp&amp;sig=L87iyx0ViWrQjnmOV1mmNg 2x\" media=\"(max-width: 767px)\" srcset=\"data:,1w\" type=\"image\/webp\"><img decoding=\"async\" class=\"embedded-image__image lazyload\" data-src=\"https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/07\/chart-0708.jpg?quality=90&amp;strip=all&amp;w=288&amp;sig=okW1TkEQsTx5X0LRGydHrg\" data-srcset=\"https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/07\/chart-0708.jpg?quality=90&amp;strip=all&amp;w=288&amp;sig=okW1TkEQsTx5X0LRGydHrg,&#10;                https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/07\/chart-0708.jpg?quality=90&amp;strip=all&amp;w=576&amp;sig=QIXAAZgStfnCizhx89Azbw 2x\" src=\"https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/07\/chart-0708.jpg?quality=5&amp;strip=all&amp;w=100&amp;sig=tMubADVEQD1UyaQerHtZjw\" alt=\"markets\" height=\"413\" loading=\"lazy\" width=\"1000\"\/><\/source><\/source><\/source><\/source><\/source><\/picture><figcaption class=\"image-caption\"><span class=\"caption\"> Financial Post<\/span><\/figcaption><\/figure>\n<hr\/>\n<figure class=\"embedded-image\"\/>\n<p><strong><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-3080181\" alt=\"\" height=\"114\" src=\"https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2022\/07\/subhead_reads.jpeg\" width=\"838\"\/><\/strong><\/p>\n<\/section>\n<div class=\"ad__section-border article-content__ad-group ad_counter_5\">\n<section aria-describedby=\"advertisment6571781015943876404107817204580352\" class=\"ad\">\n<p>Advertisement 5<\/p>\n<div class=\"ad__container\">\n<div class=\"ad__inner\" id=\"ad__inner-5\">\n<div class=\"ad__inner__container\" data-ad=\"[[1200,250],[1200,90],[970,90],[970,250],[728,90],[300,250]]\" data-ad-loc=\"5\" data-ad-mobile=\"[[320,50],[300,50],[300,250]]\" data-aqa=\"advertisement\" id=\"ad-5\" style=\"--desktopHeight:250px;--mobileHeight:250px\">\n<div aria-hidden=\"true\" class=\"ad__placeholder\">\n<p>This advertisement has not loaded yet, but your article continues below.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n<\/div>\n<section class=\"article-content__content-group article-content__content-group--story\">\n<p>Article content<\/p>\n<section aria-labelledby=\"moreTopicLabel4991501038706172678978314090577920\" class=\"more-topic\" data-aqa=\"embed-more-topic\" data-carousel-component=\"\" data-carousel-icon-button=\"\" data-carousel-type=\"list\">\n<p>Recommended from Editorial<\/p>\n<p><button aria-hidden=\"true\" class=\"more-topic__button-prev\" data-carousel-prev=\"\" tabindex=\"-1\" title=\"previous\" type=\"button\"\/><\/p>\n<ol class=\"more-topic__items list-unstyled\" data-carousel-slide-list=\"\" tabindex=\"0\">\n<li data-evt-val=\"{\" control_fields=\"\" some=\"\" myths=\"\" about=\"\" housing=\"\" affordability=\"\" data-carousel-item=\"\" data-evt=\"click\" data-evt-typ=\"click\"> <picture class=\"more-topic__item-image\"><img decoding=\"async\" src=\"https:\/\/smartcdn.gprod.postmedia.digital\/nationalpost\/wp-content\/uploads\/2024\/07\/housing1215.jpg?h=96&amp;strip=all&amp;quality=80&amp;sig=tysNZvFjfBPSd5BR1jVtDQ\" srcset=\"https:\/\/smartcdn.gprod.postmedia.digital\/nationalpost\/wp-content\/uploads\/2024\/07\/housing1215.jpg?h=96&amp;strip=all&amp;quality=80&amp;sig=tysNZvFjfBPSd5BR1jVtDQ, https:\/\/smartcdn.gprod.postmedia.digital\/nationalpost\/wp-content\/uploads\/2024\/07\/housing1215.jpg?h=192&amp;strip=all&amp;quality=80&amp;sig=JHOImw6dWkpGFZnitY7Qlw 2x,&#10;                                             https:\/\/smartcdn.gprod.postmedia.digital\/nationalpost\/wp-content\/uploads\/2024\/07\/housing1215.jpg?h=288&amp;strip=all&amp;quality=80&amp;sig=ygvAYRsUgHfGw1WtZAOJgA 3x\" alt=\"housing\" class=\"lazyload\" height=\"96\" loading=\"lazy\" width=\"96\"\/><\/picture>\n<p><span class=\"more-topic__item-text-clamp\">Economist &#8216;busts some myths&#8217; about housing affordability<\/span><\/p>\n<\/li>\n<li data-evt-val=\"{\" control_fields=\"\" alberta=\"\" is=\"\" on=\"\" track=\"\" to=\"\" become=\"\" a=\"\" nation-beater=\"\" again=\"\" data-carousel-item=\"\" data-evt=\"click\" data-evt-typ=\"click\"> <picture class=\"more-topic__item-image\"><img decoding=\"async\" src=\"https:\/\/smartcdn.gprod.postmedia.digital\/nationalpost\/wp-content\/uploads\/2024\/07\/calgary-0702-ph-1.jpg?h=96&amp;strip=all&amp;quality=80&amp;sig=GYJdi13p1E3BoxN522-gcw\" srcset=\"https:\/\/smartcdn.gprod.postmedia.digital\/nationalpost\/wp-content\/uploads\/2024\/07\/calgary-0702-ph-1.jpg?h=96&amp;strip=all&amp;quality=80&amp;sig=GYJdi13p1E3BoxN522-gcw, https:\/\/smartcdn.gprod.postmedia.digital\/nationalpost\/wp-content\/uploads\/2024\/07\/calgary-0702-ph-1.jpg?h=192&amp;strip=all&amp;quality=80&amp;sig=ZdxEkvZcFQPX1EkFsjeMsg 2x,&#10;                                             https:\/\/smartcdn.gprod.postmedia.digital\/nationalpost\/wp-content\/uploads\/2024\/07\/calgary-0702-ph-1.jpg?h=288&amp;strip=all&amp;quality=80&amp;sig=4B7VV6sZdm-Swo2cTbeyrg 3x\" alt=\"None\" class=\"lazyload\" height=\"96\" loading=\"lazy\" width=\"96\"\/><\/picture>\n<p><span class=\"more-topic__item-text-clamp\">How Alberta is on track to become a nation-beater again<\/span><\/p>\n<\/li>\n<\/ol>\n<p><button aria-hidden=\"true\" class=\"more-topic__button-next\" data-carousel-next=\"\" tabindex=\"-1\" title=\"next\" type=\"button\"\/><\/section>\n<hr\/>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-2059284\" alt=\"\" height=\"86\" src=\"https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2020\/04\/subhead_personal_finance_2.png\" width=\"629\"\/><\/p>\n<p data-async=\"\">A reader with 20 years to go until retirement asks if dividend investing is a good option for him. Interest rate hikes have limited how much he can contribute to savings, and the investor wonders if it would be a better strategy to switch from growth stocks to dividends and reinvest what he earns. Financial planner Andrew Dobson has some answers. Find out more.<\/p>\n<hr\/>\n<p data-async=\"\">Are you worried about having enough for retirement? Do you need to adjust your portfolio? Are you wondering how to make ends meet? Drop us a line\u00a0with your contact info and the gist of your problem and we\u2019ll try to find some experts to help you out, while writing a Family Finance story about it (we\u2019ll keep your name out of it, of course). If you have a simpler question, the crack team at FP Answers, led by Julie Cazzin, can give it a shot.<\/p>\n<hr\/>\n<h2>McLister on mortgages<\/h2>\n<p data-async=\"\">Want to learn more about mortgages? Mortgage strategist Robert McLister\u2019s Financial Post column can help navigate the complex sector, from the latest trends to financing opportunities you won\u2019t want to miss. Plus check his mortgage rate page for Canada\u2019s lowest national mortgage rates, updated daily.<\/p>\n<hr\/>\n<p data-async=\"\"><em>Today\u2019s Posthaste was written by Pamela Heaven, with additional reporting from Financial Post staff, The Canadian Press and Bloomberg.<\/em><\/p>\n<p data-async=\"\">Have a story idea, pitch, embargoed report, or a suggestion for this newsletter? Email us at\u00a0posthaste@postmedia.com.<\/p>\n<hr\/>\n<p data-async=\"\"><em><strong>Bookmark our website and support our journalism:<\/strong> Don\u2019t miss the business news you need to know \u2014 add\u00a0financialpost.com\u00a0to your bookmarks and sign up for our newsletters here.<\/em><\/p>\n<\/section>\n<section class=\"article-content__content-group article-content__content-group--story\">\n<p>Article content<\/p>\n<\/section>\n<section class=\"article-content__share-group article-delimiter\" data-evt-val=\"{\" control_fields=\"\" data-evt-typ=\"page_scroll\">\n<p>Share this article in your social network<\/p>\n<\/section>\n<\/div>\n\n<br \/>Bank of Canada rate cut obstacles are fading \u2014 except for this one<\/a><br \/>\n<br \/>2024-07-08 12:06:19<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Breadcrumb Trail Links News There is one thing that could be a fly in the ointment on July 24 Published Jul 08, 2024 \u00a0\u2022\u00a0 4 minute read You can save&#8230;<\/p>\n","protected":false},"author":2,"featured_media":49016,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[31],"tags":[],"class_list":["post-49015","post","type-post","status-publish","format-standard","has-post-thumbnail","category-economy"],"_links":{"self":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts\/49015","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/comments?post=49015"}],"version-history":[{"count":0,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts\/49015\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/media\/49016"}],"wp:attachment":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/media?parent=49015"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/categories?post=49015"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/tags?post=49015"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}