FILE PHOTO: Governor of the Bank of Canada Tiff Macklem walks outside the Bank of Canada building in Ottawa, Ontario, Canada June 22, 2020.
About a third expect a recession over the coming year, the same level as the previous quarter, the survey said.
Some 27% of businesses see it taking more than three years to bring inflation down to 2%, down from 32% the previous quarter, the central bank said.
Some 53% of businesses see inflation remaining above 3% over the next two years, compared with 64% the previous quarter.
A separate Bank of Canada survey showed consumers’ inflation expectations for the next year eased slightly, though they remained at more than 5%.
Persons:
Blair Gable, “, Steve Scherer, David Ljunggren
Organizations:
OTTAWA, Bank of Canada, REUTERS, ” Bank of Canada, of Canada, Consumers, “ Firms, Reuters
Locations:
Ottawa , Ontario, Canada, Reuters Ottawa