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canada’s-economy-has-scope-to-slow-with-vacant-jobs,-central-bank-chief-says

Canada’s economy has scope to slow with vacant jobs, central bank chief says

By BizTech Weekly Oct 10, 2022

Bank of Canada Governor Tiff Macklem says there is scope to slow the economy based on an “exceptionally high number” of job vacancies in the labor market. Macklem said the current inflation fight is the biggest test the central bank has faced since it started targeting inflation 30 years ago. Canada’s headline inflation rate dropped to 7 percent in August, with core inflation running at about 5 percent. Economists and money markets are leaning toward a 50-basis-point increase on Oct. 26. Canada’s employers were actively looking to fill nearly 1 million jobs as of July, data released on Friday showed, while the job vacancy rate fell to 5.4 percent in July, from a peak 6 percent in April 2022. . . .

Read more at business.inquirer.net

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