Canada's economy has scope to slow

TORONTO, Oct 10 (Reuters): Bank of Canada Governor Tiff Macklem said there is scope to slow the economy based on an "exceptionally high number" of job vacancies in the labor market.
In an interview aired on CBC Radio on Sunday, Macklem said the current inflation fight is the biggest test the central bank has faced since it started targeting inflation 30 years ago.
But he assured Canadians that monetary policy is working and he expected inflation to return to the central bank's 2 per cent target by 2024. Canada's headline inflation rate dropped to 7.0 per cent in August, with core inflation running at about 5 per cent.
"We need to cool the economy, (but) we don't want to over- cool the economy," Macklem said.