Canada’s Economy Will Face Slowdown ‘Around the Corner,’ Freeland Says
Deputy Prime Minister Chrystia Freeland says that Canadians will face more economic challenges “around the corner” as a result of rising interest rates.
“The impact that will have on people’s family budgets—some people are going to see their mortgage payments rise and that is a challenge,” Freeland told reporters in Gatineau, Que., on Oct. 17.
“I’m not going to sugarcoat it and I’m not going to claim that we don’t have some challenging months ahead. We do,” she added.
The Bank of Canada (BoC) yesterday released its 2022 third-quarter “Canadian Survey of Consumer Expectations,” which said most Canadians surveyed “expect a recession in the next 12 months.”…