The Bank of England is prepared to make larger interest rate cuts if the job market shows signs of slowing down, its governor has said. In an interview with the Times, Andrew Bailey said "I really do believe the path is downward" on interest rates.

Canada’s job market surprisingly gained 83,000 positions in June, pushing the unemployment rate down to 6.9 per cent from seven per cent and adding another wrinkle to predictions of where interest rates are headed.

The June jobs numbers will be the last look the Bank of Canada gets at the labour market ahead of its next interest rate decision on July 30.