Trade Uncertainty Saps Optimism, Bank of Canada Surveys Show
Mooring crews prepare to tie up a container ship arriving at the Fairview Container Terminal in the Port of Prince Rupert in Prince Rupert, British Columbia.
Photographer: James MacDonald/BloombergBank of Canada surveys show persistent pessimism among firms and consumers as the ongoing US trade war deepens uncertainty.
The central bank’s business outlook indicator rose slightly to minus 1.78 in the fourth quarter, up from minus 2.3 previously. While that’s the highest level since before the trade war began about a year ago, policymakers said sentiment is “subdued,” and most firms plan to maintain or decrease staffing levels.