In April, Canada witnessed a robust surge in job creation, adding around 90,000 positions, surpassing economists' predictions. Despite this, the unemployment rate held steady at 6.1%. This unexpected growth led to speculation about potential interest rate adjustments by the Bank of Canada. Additionally, the Bank issued a cautionary note, highlighting the impending rise in mortgage payments, emphasizing the importance for households and banks to prepare. In other news, a study revealed the distribution of real millionaires across major Canadian cities. For more insights, stay tuned to this week's Decoder.
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