BoC Gov. Macklem says job losses are likely to increase in the months ahead

Bank of Canada Governor Macklem comments on CBC News. The BoC have been in rate hike mode to combat rising inflation Inflation Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Read this Term. there will be a toll on jobs admits Macklem.

• Layoffs are likely to increase in the coming months
• Says the labour market is very tight
• Says Canadians should expect even more rate hikes to come on top of six that have already happened this year
• We think growth is going to be close to zero for the next few quarters, until about the middle of next year
• A mild recession may be the price the bank is willing to pay to bring down inflation
• Monetary policy works