BREAKING Monthly earnings rise, payroll employment falls: jobs report
The number of vacant jobs in Canada increased in February, while monthly payroll employment decreased in food services, manufacturing, and retail trade, among other sectors.
A senior European Central Bank official says that raising interest rates prematurely could "choke off the recovery," comments that come as inflation in the 19-nation euro area has hit a record rate.
The European Union's statistical office said Jan. 7 that the annual inflation rate rose to 5% in December -- the highest level in the eurozone since recordkeeping began in 1997, breaking the previous record of 4.9% from November.
That compounded pressure for the ECB to act on inflation since it has kept interest rates ultra-low to stimulate an economy recovering from the depths of the pandemic. At present, analysts don't expect the bank to raise rates until 2023.
In an interview with Saturday's edition of German daily Sueddeutsche Zeitung, ECB executive board member Isabel Schnabel stressed the bank's expectation "that inflation will fall significantly over the medium term."
"That is why we are not raising interest rates now, as some are calling for," she said.
The ECB's projections foresee medium-term inflation even falling below the bank's target of 2%, though there is currently "great uncertainty" over the outlook, she added.
"That is why we should not raise interest rates prematurely, as that could potentially choke off the recovery," Schnabel said. "But we will act quickly and decisively if we conclude that inflation may settle above 2%."
She acknowledged, however, that the bank views the current year-on-year figures "with some concern, as they are higher than we initially expected." But she noted that, calculated over a longer period, inflation has not increased as much as they suggest.
Inflation is traditionally a particularly acute concern in Schnabel's native Germany, which has Europe's biggest economy.
The number of vacant jobs in Canada increased in February, while monthly payroll employment decreased in food services, manufacturing, and retail trade, among other sectors.
The Canadian Medical Association asserts the Liberals' proposed changes to capital gains taxation will put doctors' retirement savings in jeopardy, but some financial experts insist incorporated professionals are not as doomed as they say they are.
A West Virginia father is getting some sense of closure after authorities found the remains of his young daughter and her mother following a deathbed confession from the man believed to have fatally shot them nearly two decades ago.
For centuries, people have wondered what, if anything, might be lurking beneath the surface of Loch Ness in Scotland. When Canadian couple Parry Malm and Shannon Wiseman visited the Scottish highlands earlier this month with their two children, they didn’t expect to become part of the mystery.
Recent injected drugs like Wegovy and its predecessor, the diabetes medication Ozempic, are reshaping the health and fitness industries.
Two military horses that bolted and ran miles through the streets of London after being spooked by construction noise and tossing their riders were in a serious condition and required operations, a British government official said Thursday.
Mounties in Nanaimo, B.C., say two late-night revellers are lucky their allegedly drunken antics weren't reported to police after security cameras captured the men trying to steal a heavy sign from a downtown business.
It's no secret that spring can be a tumultuous time for Canadian weather, and as an unseasonably mild El Nino winter gives way to summer, there's bound to be a few swings in temperature that seem out of the ordinary. From Ontario to the Atlantic, though, this week is about to feel a little erratic.
The oldest living former major leaguer, Art Schallock turns 100 on Thursday and is being celebrated in the Bay Area and beyond as the milestone approaches.
A property tax bill is perplexing a small townhouse community in Fergus, Ont.
When identical twin sisters Kim and Michelle Krezonoski were invited to compete against some of the world’s most elite female runners at last week’s Boston Marathon, they were in disbelief.
The giant stone statues guarding the Lions Gate Bridge have been dressed in custom Vancouver Canucks jerseys as the NHL playoffs get underway.
A local Oilers fan is hoping to see his team cut through the postseason, so he can cut his hair.
A family from Laval, Que. is looking for answers... and their father's body. He died on vacation in Cuba and authorities sent someone else's body back to Canada.
A former educational assistant is calling attention to the rising violence in Alberta's classrooms.
The federal government says its plan to increase taxes on capital gains is aimed at wealthy Canadians to achieve “tax fairness.”
At 6'8" and 350 pounds, there is nothing typical about UBC offensive lineman Giovanni Manu, who was born in Tonga and went to high school in Pitt Meadows.
Kevin the cat has been reunited with his family after enduring a harrowing three-day ordeal while lost at Toronto Pearson International Airport earlier this week.