Bank of Canada Governor Tiff Macklem and Senior Deputy Governor Carolyn Rogers hold a press conference at the Bank of Canada in Ottawa, on March 6, 2024. The Canadian Press/Sean Kilpatrick
A pair of reports from the Bank of Canada say tariff-related uncertainty continued to put a damper on business and consumer sentiment in the second quarter, but the worst-case trade scenarios previously anticipated seem less likely.
The central bank’s business outlook survey said 28 percent of firms are now planning for a recession in Canada, down from 32 percent last quarter but still up from 15 percent over the previous two quarters.
