BoC Looking to Jobs Data to Gauge Slack

        14:42 EDT - CIBC World Markets says the Bank of Canada seems to be leaning more on employment and the jobless rate than on GDP in determining the output gap these days, "perhaps because it's been more in sync with the softness in inflation." Growth in Q1 looks to be nudging above the Bank's 1.5% real GDP projection, it says. "But if unemployment is the focus, we'll need better average monthly jobs figures to go with the GDP results to sway the central bankers into hiking along with the Fed in mid-2015," CIBC says. (don.curren@wsj.com; @dbcurren)
        (END) Dow Jones Newswires

        May 02, 2014 14:42 ET (18:42 GMT)