BOC’s Macklem says job market slack may continue in short term

Author: Adam Button | Category: Central Banks
  • Reiterates hawkish bias
  • Canada may reduce monetary stimulus assuming economy keeps growing
  • Biggest labor market challenge in next 5 years will be finding enough workers, not jobs
  • Persistent CAD strength is a reason businesses should invest in machinery

USD/CAD edges to the downside but the market is skeptical that the BOC is serious about rate cuts while others are easing.