'The tightness in the labour market needs to ease, wage growth needs to moderate, and service price inflation needs to cool,' governor Tiff Macklem said
Bank of Canada Governor Tiff Macklem conducts an end of year fireside chat in VancouverOTTAWA -Bank of Canada Governor Tiff Macklem said on Thursday that the economy remains overheated and the jobs market is too tight, as he kept the door open to future interest rate hikes.
Macklem reiterated the bank's policy stance, but acknowledged the impact of last week's strong January jobs report. "The tightness in the labor market needs to ease, wage growth needs to moderate and service price inflation needs to cool" or else more interest rate hikes will be needed, he added.
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