02:08 PM EST, 11/29/2024 (MT Newswires) -- According to Avery Shenfeld, the employment data next Friday could be the tie breaker for the Bank of Canada's decision on the size of the following week's rate cut. CIBC expects a repeat of what's become a common feature of these data: with it showing a job gain that would have been acceptable in the past now being insufficient to keep up with labour force growth, resulting in a one tick rise in the jobless rate. That, and soft readings for September and October monthly GDP growth, would seem to be sufficient reason to deliver another half point cut to get rates to the top end of the BoC's estimate of the neutral range, Shenfeld added.

(Also on the CIBC calendar for release next week is the Q3 Labour Productivity data due Wednesday; and then both the October Trade and November IVEY PMI data due Thursday.)

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