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Bank of Canada Chief Says Pandemic Accelerated Digitalization

Read more at www.wsj.com

The Canadian economy will require monetary policy support for a considerable period while the labor market recovers from the effects of the coronavirus pandemic, Bank of Canada Governor Tiff Macklem said on Tuesday.

Mr. Macklem made the remarks following a speech that focused on the shift toward more digital jobs and automation and the possibility of a permanent decline in some service-sector jobs. He said the economy is adapting to structural changes that were under way before the pandemic and have accelerated during the…

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