The Bank of Canada is seen Wednesday September 6, 2017 in Ottawa.
The Bank of Canada says business and consumer sentiment improved during the first quarter of the year, despite higher interest rates still putting a drag on the economy.The Bank of Canada, based in Ottawa, says business and consumer sentiment improved during the first quarter of the year, despite higher interest rates still putting a drag on the economy.
Although firms still reported weak demand, indicators of business conditions, sales outlook and employment intentions improved after several quarters of decline. Meanwhile, nearly two-thirds of Canadian consumers are cutting or postponing spending due to high inflation and interest rates."Although weak, consumer sentiment improved this quarter, with people expecting lower interest rates," the Bank of Canada said. "As a result, consumers are less pessimistic about the future of the economy and their financial situation, and fewer think they will need to further cut or postpone spending.
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