TORONTO — Canada’s main stock index rose nearly 250 points on Friday, as investors sifted through the latest employment figures.
The domestic job market took a leap toward recovery in July. Statistics Canada said on Friday that the unemployment rate edged lower to 6.4 per cent in the month as the economy added 75,000 jobs. A Reuters poll ahead of the release showed Bay Street was expecting a modest 15,000-job gain.
But economists say there’s still a long road ahead before the Bank of Canada considers tightening policy.
“I would be hoping for interest rate cuts, but with strong jobs data and inflation slightly above target on the headline
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