{"id":90931,"date":"2023-10-16T20:46:16","date_gmt":"2023-10-16T16:46:16","guid":{"rendered":"https:\/\/noortrends.ae\/en\/?p=90931"},"modified":"2023-10-16T23:30:57","modified_gmt":"2023-10-16T19:30:57","slug":"boc-survey-consumers-think-interest-rates-will-go-up-over-next-12-months","status":"publish","type":"post","link":"https:\/\/noortrends.ae\/en\/boc-survey-consumers-think-interest-rates-will-go-up-over-next-12-months\/10\/16\/market-updates\/","title":{"rendered":"BoC Survey: Consumers think interest rates will go up over next 12 months"},"content":{"rendered":"\n

The BoC noted in its Business Outlook Survey for the third quarter on Monday that consumers thought that interest rates will go up over the next 12 months.

USD\/CAD stays under modest bearish pressure in the American session and the pair was last seen losing 0.23% on the day at 1.3625.

Key Quotes
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“One-third of firms expect Canada to be in recession over the next year, the same as in Q2.”

“Recent indicators of future sales continue to moderate; balance of opinion in Q3 was flat compared to +8 in Q2.”

“27% of firms think it will take longer than three years to return to the BoC’s 2% inflation target, down from 32% in Q2.”

“53% of firms expect inflation to remain above 3% for the next two years, down from 64% in Q2.”

“More than 70% of firms across broad range of sectors say higher interest rates are negatively affecting them.”

“Around 80% of firms believe effects of past monetary policy tightening on their businesses are far from over.”

“Firms’ intentions to hire are below their historical average; firms report widespread easing in intensity of labor shortages compared to Q3 2022.”

“Overall Q3 Business Outlook Survey Indicator -3.51%, lowest since Q2 2020; Q2 2023 was -2.31% (rev from -2.15%).”

“Firm anticipate gradual easing in wage growth over next 12 months.”

“55% of Canadians expect a recession the next year, up from 50% in Q2.”

“Consumer expectations for 5-year ahead inflation have edged down to 2.75% from 2.89% in Q2.”
<\/p>\n","protected":false},"excerpt":{"rendered":"

The BoC noted in its Business Outlook Survey for the third quarter on Monday that consumers thought that interest rates will go up over the next 12 months.USD\/CAD stays under modest bearish pressure in the American session and the pair was last seen losing 0.23% on the day at 1.3625.Key Quotes“One-third of firms expect Canada …<\/p>\n","protected":false},"author":13,"featured_media":31439,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[37,36],"tags":[6932,9479,7525,9455,6987,7517,8109],"class_list":["post-90931","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-forex-markets","category-market-updates","tag-boc","tag-business-outlook-survey","tag-consumers","tag-firms","tag-inflation","tag-interest-rates","tag-q2"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/90931","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/comments?post=90931"}],"version-history":[{"count":3,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/90931\/revisions"}],"predecessor-version":[{"id":90979,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/90931\/revisions\/90979"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/31439"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=90931"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=90931"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=90931"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}