Canada is heading for arecessionin 2023, but according to a new report from RBC, it is "short-lived" and may not be as serious as the previous recession. there is. ..
RBC economists say the economy will fall into a "moderate contraction" next year due to soaring food and energy prices, rising interest rates and a continuing labor shortage. .. The
RBC expects the unemployment rate ofto reach 6.6% next year, but it won't be long before some of its weaknesses are eliminated after 2024. thinking about.
Read more: Inflation continues to rise, but will the recession continue? Experts say "beating the hatch"
Household spending accelerated from the pandemic lockdown of COVID-19 is hit by rising prices, interest rates and unemployment rates. The report adds that it will slow down to give.
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RBC also has home prices Expected to fall 10 Percentage one year ahead, minus more than $ 800 billion from household net assets.
According to the RBC, interest rates are expected to rise by three-quarters next week, and the Bank of Canada expects to raise key policy interest rates to 3.25% by the end of this year. In June, the Central Bank raised key interest rates by 0.5 percentage points to 1.50 percent in an attempt to curb soaring inflation.
© 2022 TheCanadian Press
