BoC Reports Show Trade Uncertainty Takes Toll on Business and Consumer Confidence

BoC Reports Show Trade Uncertainty Takes Toll on Business and Consumer Confidence
Bank of Canada Governor Tiff Macklem and Senior Deputy Governor Carolyn Rogers hold a press conference at the Bank of Canada in Ottawa on March 12, 2025. The Canadian Press/Sean Kilpatrick
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A pair of reports from the Bank of Canada pointed to declining business and consumer sentiment in the first quarter as the uncertainty over U.S. tariffs took their toll.

The central bank’s business outlook survey said Monday that 32 percent of firms are now planning with the assumption that a recession will occur in Canada over the coming year, up from 15 percent over the past two quarters.