Economists are revising recession forecasts following the Bank of Canada\u0027s latest interest rate hike in the face of strong data. Read on.
Other economists aren’t far behind BMO’s recession rethink.
RBC is calling for a downturn in the final two quarters of the year, Janzen said, describing the expected recession as a “delayed but not prevented ‘bumpy’ landing. The Bank of Canada’s latest rate hike has other economics houses in the midst of revising their outlooks, too. “But we’ve always forecast a mild and temporary contraction absent some of the other hallmarks of a recession,” he said. “For instance, we project employment growth will continue in the 1.5 per cent to two per cent year-over-year range by year-end and next year.
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