Canadian companies see sluggish conditions, hope rate cuts will boost demand: BoC survey

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Over the next 12 months, 43% of businesses expect the rate of increase in sales volumes to be better than the previous 12 months, with 30% predicting a decline

Canadian firms are still seeing weak demand and slow sales growth but conditions improved marginally in the third quarter and could be boosted by rate cuts, according to a Bank of Canada survey released on Friday.

“Businesses continue to experience muted inflationary pressures: demand is weak, firms have excess capacity and price growth continues to slow,” the survey said. “Firms largely attribute the improvements in demand indicators this quarter to the two interest rate cuts ,” the survey said. The bank also cut rates in September.

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