Canadians firms see inflation easing, sluggish demand

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SaltWire's Atlantic regional weather forecast for October 16, 2023 | SaltWireOTTAWA, Oct 16 - Canadian businesses see inflation easing over the next two years, though many still expect it to take more than three years to return to the central bank's 2% target, the Bank of Canada said on Monday in a third-quarter survey.

"Reports of softer demand are broad-based," the survey said."Signs indicate that pricing behavior is moving toward normal ... A continued softening in demand conditions is creating an environment where firms are less able to pass through input cost increases." The central bank has hiked interest rates 10 times since March of last year to a 22-year high, but it still does not see inflation slowing to its 2% target until mid-2025.

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