In its latest monetary policy report, the Bank of Canada said it expects the full effects of rate hikes on the labour market to play out over a longer period.
Labour groups have voiced concerns about the Bank of Canada’s rate hikes in recent months, with Unifor president Lana Payne previously accusing the central bank of waging war on the working class. On Thursday, Statistics Canada reported the number of job vacancies fell by 2.4 per cent in November to their lowest level since August 2021.
To be credible the “labour market” should exclude government jobs.
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As the BoC takes a pause from hiking rates, all eyes are on the labour marketAs the Bank of Canada takes a pause from raising interest rates to assess the effects of higher borrowing costs on the economy, economists will be paying close attention to how the labour market is affected. Dsddy trudeau is scared of the polls and demanded they dont doit.... Take a pause till next month LOL. Rate should have been 5%+ by now. This alone is not helping. The economic situation is worse this January. Governments need to take fast action.
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Housing market experts see glimmer of hope in BOC rate hike pause - BNN BloombergHousing market experts said a forecasted pause to the Bank of Canada’s (BoC) monthslong interest rate tightening cycle offers some hope as the impact of consecutive rate hikes sink in deeper for homeowners and interested buyers.
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