finance
Bank of Canada Sets Borrowing Costs While Acknowledging Weak Growth and Labor-Market Slack
Bank of Canada officials set borrowing costs earlier this month while rejecting the idea that the economy is in recession. They noted weak growth and labor market slack but described the move as routine monitoring of indicators.
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Bank of Canada officials rejected the notion that Canada’s economy is in recession as they set borrowing costs earlier this month, @business reported. They acknowledged weak growth and labor market slack during the process. The decision came amid signs of softness in economic activity and hiring conditions.
Officials framed the move as consistent with ongoing monitoring of those indicators rather than any formal recession assessment.
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