BOC December rate hike odds drop as unemployment rises

Odds of a Bank of Canada rate hike in December fell after Canadian unemployment data came in higher than expected, prompting markets to price in a greater chance the central bank holds rates steady. The shift reflects growing expectations that a softer labor market could slow economic growth and give policymakers room to pause. Traders will watch upcoming inflation and employment reports for confirmation of whether the Bank of Canada signals a pause at its December meeting.