Tiff Macklem says job market beginning to cool in fight against inflation StephHughes95
that he orchestrated this year are doing their job by turning down the heat on an economy that central bank thinks is growing too fast.
“With more modest spending growth, the demand for labour by businesses will ease, vacancies will decline, and the labour market will come into better balance,” Macklem said. “This will relieve price pressures.” Stephen Tapp, chief economist at the Canadian Chamber of Commerce, said the playbook may be shifting in the current economic environment. Tapp said whether these job vacancies could absorb the economic effects of higher rates or a market downturn was a key question for Canadian labour market dynamics moving forward.Article content
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Bank of Canada governor to discuss evolution of labour markets | Globalnews.caBank of Canada governor Tiff Macklem will discuss the evolution of Canadian labour markets before the Public Policy Forum at Toronto Metropolitan University Thursday.
Read more »
Canada’s low unemployment rate is unsustainable, contributing to high inflation: MacklemAccording to prepared remarks, Bank of Canada governor Tiff Macklem says the country’s labour market needs to be rebalanced in order to stabilize decades-high inflation
Read more »
Bank of Canada interest rate hike adds pressure to tight rental marketPrices for rentals \u0027getting out of control\u0027 even as housing market
Read more »
What is the Bank of Canada interest rate?The Bank of Canada\u0027s interest rate affects the cost of borrowing money for loans such as mortgages and HELOCs. Raising the rate is a tool
Read more »
What is the Bank of Canada interest rate?The Bank of Canada\u0027s interest rate affects the cost of borrowing money for loans such as mortgages and HELOCs. Raising the rate is a tool
Read more »
Bank of Canada interest rate hike adds pressure to tight rental marketPrices for rentals \u0027getting out of control\u0027 even as housing market
Read more »