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Recap of BoC Macklem on layoffs likely to increase in the months ahead

Started by forex4you, Nov 11, 2022, 12:00 pm

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Recap of BoC Macklem on layoffs likely to increase in the months ahead

<p>Bank of Canada Governor Macklem spoke with CBC News, the headlines are here from earlier:</p><ul><li><a href="https://www.forexlive.com/centralbank/boc-gov-macklem-says-job-losses-are-likely-to-increase-in-the-months-ahead-20221110/" rel="follow" target="_self" class="article-link vertical-align-baseline">BoC Gov. Macklem says job losses are likely to increase in the months ahead</a></li></ul><p>The <a href="https://www.cbc.ca/news/business/tff-macklem-interview-1.6647808" target="_blank" rel="nofollow">CBC report is here</a>:</p><ul><li>"The unemployment rate is going to go up," he said. "We're not talking about high unemployment rates that we've seen in past recessions, but it is going to go up."</li><li>"We actually think growth is going to be close to zero for the next few quarters, until ... about the middle of next year," Macklem said.</li><li>If it happens, a mild recession may be the price the bank is willing to pay to bring down inflation. </li></ul>

                This article was written by Eamonn Sheridan at forexlive.com.

Source: Recap of BoC Macklem on layoffs likely to increase in the months ahead

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