The Bank of Canada maintained interest rates at 0.25% for a third successive month, as expected. Policymakers noted that financial conditions have started to improve, as the country is slowly recovering from the Covid-19 outbreak. This was the first policy meeting under new BOC Governor Tiff Macklem, who replaces Stephen Poloz. Canada's trade deficit jumped to C$3.3 billion in April, up from C$ 1.4 billion beforehand. It was the highest deficit recorded since January 2019. The economy added 289.6 thousand jobs in May, after shedding 1.99 million a month earlier. Analysts had predicted a loss of 500 thousand jobs. The unemployment rate climbed to 13.7%, up from 13% beforehand. Still, this was better than the estimate of 15.0 percent. Elsewhere, Ivey PMI improved to 39.1, up from 22.8 and beating the forecast of 30.8 points.