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

Bank of Canada Governor Macklem spoke with CBC News, the headlines are here from earlier:

The CBC report is here:

• “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.”
• “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.
• If it happens, a mild recession may be the price the bank is willing to pay to bring down inflation.