As the BoC takes a pause from hiking rates, all eyes are on the labour market

High interest rates cause businesses and consumers to pull back on spending. As business slows, companies review their staffing levels and unemployment tends to climb.Sign up to receive daily headline news from the Calgary Herald, a division of Postmedia Network Inc.By clicking on the sign up button you consent to receive the above newsletter from Postmedia Network Inc. You may unsubscribe any time by clicking on the unsubscribe link at the bottom of our emails or any newsletter.

“Part of rebalancing demand and supply in the economy is rebalancing the labour market,” said Governor Tiff Macklem during a news conference on Wednesday.Article content Jim Stanford, an economist and the director of the Centre for Future Work, is concerned higher interest rates will slow the economy more than the central bank is anticipating.Stanford said 40 years ago, that was the case when the Bank of Canada fought off runaway inflation with rapid interest rate hikes.Article content

“The hope is that as businesses start to see that slower demand, that they will start to pull those job vacancies before they start firing workers,” said Kaushik.Since then, the number of unfilled positions have fallen to around 850,000 vacancies in November. In a research paper published in the fall, Bank of Canada researchers estimated in their base case scenario that restoring normal job vacancy levels would push up the unemployment rate to a peak of 6.7 per cent.

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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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