{"id":1680542,"date":"2022-10-09T10:53:49","date_gmt":"2022-10-09T14:53:49","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1680542"},"modified":"2022-10-09T10:54:01","modified_gmt":"2022-10-09T14:54:01","slug":"canadas-economy-has-scope-to-slow-with-exceptionally-high-vacant-jobs-central-bank-gov","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/canadas-economy-has-scope-to-slow-with-exceptionally-high-vacant-jobs-central-bank-gov\/","title":{"rendered":"Canada\u2019s economy has scope to slow with \u2018exceptionally high\u2019 vacant jobs -central bank gov"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">28<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fcanadas-economy-has-scope-to-slow-with-exceptionally-high-vacant-jobs-central-bank-gov%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1680542&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>TORONTO (Reuters) \u2013     Bank of Canada Governor Tiff Macklem said there is scope to slow the economy based on an \u201cexceptionally high number\u201d of job vacancies in the labor market.<\/p>\n<p>In an interview aired on CBC Radio on Sunday, Macklem said the current inflation fight is the biggest test the central bank has faced since it started targeting inflation 30 years ago.<\/p>\n<div id=\"div-gpt-ad-1663871513696-art-1\">\n<\/div>\n<p>But he assured Canadians that monetary policy is working and he expected inflation to return to the central bank\u2019s 2% target by 2024. Canada\u2019s headline inflation rate dropped to 7.0% in August, with core inflation running at about 5%.<\/p>\n<p>\u201cWe need to cool the economy, (but) we don\u2019t want to over- cool the economy,\u201d Macklem said.<\/p>\n<p>\u201cWhen we look at the economy right now, there is an exceptionally high number of vacant jobs \u2026 that\u2019s a clear signal that there is scope to slow the economy, without a lot of people put out of work,\u201d he added.<\/p>\n<p>Canadian employers were actively looking to fill nearly 1  million jobs as of July, data released on Friday showed, while the job vacancy rate dropped to 5.4% in July, from a peak 6.0% in April 2022.<\/p>\n<p>The Bank of Canada has raised its benchmark interest rate by 300 basis points since March, one of its steepest and fastest tightening cycles ever. Economists and money markets are leaning toward a 50-basis-point increase on Oct. 26. <\/p>\n<p>Macklem said parts of the economy that are sensitive to interest rate increases are starting to slow. <\/p>\n<p>\u201cLet me be clear, what we don\u2019t want is \u2026 inflation and wages to become unmoored to our 2% objective, because if that happens, then we are actually going to need to slow the economy a lot more to get the inflation back to 2%. That\u2019s what we have been what we call front-loading our interest rate increases,\u201d Macklem added.<\/p>\n<p> (Reporting by Denny Thomas in Toronto; Editing by Matthew Lewis)<\/p>\n<p><a href=\"https:\/\/www.oann.com\/uncategorized\/canadas-economy-has-scope\/attachment\/file-photo-governor-of-the-bank-of-canada-tiff-macklem-3\/\"><img decoding=\"async\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2022\/10\/tagreuters.com2022binary_LYNXMPEI9805C-BASEIMAGE.jpg\" alt=\"tagreuters.com2022binary_LYNXMPEI9805C-BASEIMAGE\" \/><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>TORONTO (Reuters) \u2013 Bank of Canada Governor Tiff Macklem said there is scope to slow the economy based on an \u201cexceptionally high number\u201d of job vacancies in the labor market.<\/p>\n","protected":false},"author":66,"featured_media":1889628,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1680542","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_finder_url":"https:\/\/www.oann.com\/business\/canadas-economy-has-scope\/?utm_source=rss&utm_medium=rss&utm_campaign=canadas-economy-has-scope","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1680542","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/66"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1680542"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1680542\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1889628"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1680542"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1680542"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1680542"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}