Tiff Macklem assures Canadians that monetary policy is working and he expects inflation to return to the central bank’s two per cent target by 2024
“We need to cool the economy, we don’t want to over- cool the economy,” Macklem said.
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 per cent in July, from a peak 6.0 per cent in April 2022. Macklem said parts of the economy that are sensitive to interest rate increases are starting to slow.
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