If we see them increasing their outlook for the world economy in terms of growth and we see that feed into Canada, it may justify another rate hike to 4.50.
Most of the jobs created were full-time, the employment rate (percentage of the population 16 years of age and over) remains near all-time highs at 62.7, while the participation rate found a way to rise by 0.1 percentage point to 67.2, again near an all-time high.
The bank of Canada is operating textbook econ 101 here in hiking rates in anticipation of inflation going higher 12-16 months in the future, because we're operating at full capacity right now in Canada and it looks like we're going to continue.
We're looking for a relatively good year in 2006, given that wages are up and the labor market is fairly tight.
