The tight labour market reflected in Statistics Canada’s latest jobs report means the Bank of Canada will need to stay 'vigilant' with its interest rate hikes in order to rein in inflation, one economist says.
reflected in Statistics Canada’s latest jobs report means the Bank of Canada will need to stay “vigilant” with its interest rate hikes in order to rein in inflation, one economist says.
“I think they need to ultimately be a bit more vigilant still than even the market is expecting,” Clark said in a Friday interview. She predicted a 50-basis-point hike on Dec. 7, and said she thinks the central bank will ultimately bring its central interest rate to about 4.75 per cent. Bank of Canada Governor Tiff Macklem has also said that the country’s low unemployment rate is contributing to inflation.
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