Canada’s biggest employment gains since April failed to prevent the jobless rate from surging to the highest level in three years, likely bolstering the case for the central bank to keep cutting rates at a faster pace.

The Bank of Canada lowered its interest rate by 50-basis points to 3.25 per cent on Wednesday. Economists were largely expecting another weighty cut following a quarterly GDP report that saw growth come in below the central bank's projection and a jobs report that showed an uptick in the unemployment rate.

Canada's central bank on Wednesday lowered its key lending rate by 50 basis points to 3.25 percent, seeking to aid a slowing economy facing uncertainty following a tariff threat from