Global Economy

Core inflation also slowed to 4.5%, compared to a year earlier.

Nonfarm payroll increased 175,000 in April, a significant reduction from 315,000 in March and fell short of the market expectation of 243,000. Meanwhile, US unemployment rebounded to 3.9%

One of the leading indicators Bank of England (BoE) uses to predict the future direction of goods inflation is the manufacturing producer price index (PPI) growth rate. The close relation, however, has broken down in the past year.

Statistic Canada on Friday reported that Canada's unemployment rate rose to 5.8%,, reaching the highest since the start of 2022.

Bank of England will conduct a system-wide exploratory scenario (SWES) exercise on the UK financial markets to see how well both banks and non-bank financial institutions can handle stress market conditions.

Bank of Canada maintained its benchmark interest rate at 5% but warned about persistent underlying inflationary pressure.

Annual consumer prices in the Eurozone rose by 6.1% YoY in May, down from 7% in April.

Canada's CPI rose 2.78% in February, a further slowdown from the 2.86% increase in the January

Core CPI: 3.86% YoY (Dec: 3.93%) | 0.39% MoM (0.28%)

Canada's headline CPI rose 2.9% in January, hitting Bank of Canada's inflation-control target range of 1% - 3% for the first time since March 2021.