Bank of Canada Under Pressure as Recession Looms

Canada’s unemployment rate just spiked to 7.1% — a nine-year high — fueling fears that a recession may be around the corner. With job losses mounting and tariffs biting, the Bank of Canada faces growing pressure to cut interest rates. #bankofcanada #canadaeconomy #canadianeconomy Links: Posthaste: Recession talk in Canada is growing as sobering jobs picture comes into view: https://financialpost.com/news/canada-recession-talk-growing ‘Warning lights are flashing,’ economist says as unemployment hits 7.1%: https://globalnews.ca/news/11394548/canada-jobs-report-august-2025-statistics-canada/ Posthaste: Is a Bank of Canada rate cut in the bag given the cratering job market?: https://financialpost.com/news/bank-of-canada-rate-cut-coming-jobs-market Is a big Bank of Canada rate cut on the way?: https://www.mpamag.com/ca/mortgage-industry/industry-trends/is-a-big-bank-of-canada-rate-cut-on-the-way/548949 ‘Exceptionally weak’ jobs report prompts markets, economists to revise expectations for next BoC rate decision: https://www.theglobeandmail.com/investing/markets/inside-the-market/article-market-based-odds-of-boc-rate-cut-this-month-zoom-to-90-after-weak/ Weak jobs report adds pressure on Bank of Canada, but inflation still holds the key: https://www.canadianmortgagetrends.com/2025/09/weak-jobs-report-adds-pressure-on-bank-of-canada-but-inflation-still-holds-the-key/ Summary of Governing Council deliberations: Fixed announcement date of July 30, 2025: https://www.bankofcanada.ca/2025/08/summary-of-governing-council-deliberations-fixed-announcement-date-of-july-30-2025/ Federal Funds Effective Rate: https://fred.stlouisfed.org/series/DFF Unemployment rate climbed to 7.1 per cent in August as economy lost 66,000 jobs: https://www.thestar.com/business/canada-unemployment-rate/article_25cbadcf-0d62-5e57-9a42-b8bd399dd72b.html Canada's unemployment jumps to 7.1% in August, as tariffs curb business confidence: https://www.reuters.com/sustainability/sustainable-finance-reporting/canadas-unemployment-jumps-71-august-tariffs-curb-business-confidence-2025-09-05/ London-area home sales rebound as buyers shake off Trump tariff fears: https://lfpress.com/news/local-news/london-area-home-sales-rebound-as-buyers-shake-off-trump-tariff-fears Testy sellers, cautious buyers as real estate market adjusts to global trade uncertainty: https://www.theglobeandmail.com/real-estate/toronto/article-home-sales-sellers-buyers-trade-uncertainty/ Carney Unveils Billions in Aid for Canada’s Tariff-Hit Firms: https://www.bloomberg.com/news/articles/2025-09-05/carney-unveils-billions-in-relief-for-canada-s-tariff-hit-firms Tariff-threatened manufacturing, auto cities in Ontario among highest unemployment rates in Canada: https://www.insauga.com/tariff-threatened-manufacturing-auto-cities-in-ontario-among-highest-unemployment-rates-in-canada/ Union braces for fallout as Cami auto plant workforce cuts deepen: https://lfpress.com/news/local-news/union-braces-for-fallout-as-cami-auto-plant-workforce-cuts-deepen Carney holds ‘productive’ call with Trump as U.S. trade war stretches on: https://globalnews.ca/news/11344400/donald-trump-tariffs-mark-carney-call/ Ford, feds say they had 'productive' meeting with top Trump trade official in Washington: https://www.cbc.ca/news/politics/canada-ontario-tariff-meeting-washington-1.7483312 Carney unveils billions in funding, Buy Canadian policy to combat Trump's tariffs: https://www.cbc.ca/news/politics/carney-unveils-new-industrial-strategy-1.7626064 US on the Precipice of a Recession, Economist Dutta Says: https://www.bloomberg.com/news/videos/2025-09-09/us-on-the-precipice-of-a-recession-economist-dutta-says-video U.S. labour market weakens with little job growth and rising unemployment: https://www.cbc.ca/news/business/us-jobs-august-1.7626074 Mark Mitchell – Mortgage Broker London Ontario 920 Commissioners road east London, Ontario N5Z 3J1 Phone: (519)860-2102 (Call or Text) MarkMitchell@LondonOntarioMortgages.ca Brokerage Lic: 10464 Broker Lic: M16001479 https://www.LondonOntarioMortgages.ca – Apply Online!! Youtube Channel: https://www.youtube.com/c/MarkMitchellMortgageBrokerLondonOntario Subscribe NOW for more Mortgage/Financial News/Videos. Follow me on Social Media: Instagram - https://www.instagram.com/mortgagebrokerlondonontario Facebook - https://www.facebook.com/londonontariomortgages Twitter - https://twitter.com/londonmortgage1/ LinkedIn - https://www.linkedin.com/in/mark-mitchell-london-s-mortgage-broker-197842123/ TikTok - https://www.tiktok.com/@mortgagebrokerlondon?lang=en Commentary on this Channel should not be considered financial advice.