Two surveys from the Bank of Canada Friday show that while consumers and business are still expecting things like inflation and wages to be higher than usual for the foreseeable future, they are starting to come back to some sort of pre-pandemic normal — and they’re less worried about a recession, too.
In its quarterly Business Outlook Survey, the central bank says Canadian businesses are starting to see demand for their products and services decline from the unsustainable levels they hit earlier in the pandemic. Higher interest rates have had a “dampening effect” on businesses, which overall now expect their sales growth
