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Chance of a Bank of Canada rate hike next week becomes a coin toss
September 1, 2017 / 2:07 PM / in 2 months

Chance of a Bank of Canada rate hike next week becomes a coin toss

TORONTO, Sept 1 (Reuters) - The probability of a Bank of Canada interest rate hike next week rose on Friday to nearly 50 percent, data from the overnight index swaps market showed , up from around 20 percent before data on Thursday showing rapid domestic growth.

Canada’s 2-year yield climbed above its U.S. equivalent for the first time since May 2015 as U.S. job growth slowed more than expected in August, with the spread shifting 6.6 basis points to 1.1 basis points. The Canadian dollar jumped to a 2-year high against the greenback. (Reporting by Fergal Smith; Editing by Chizu Nomiyama)

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