“This slowdown in demand is … weighing on businesses’ plans for investment and employment,” the report said. The survey found the negative effects of rising interest rates are spreading, with more businesses thinking higher rates will restrain both sales and investment plans. A third of the firms responding said sales have fallen over the past year amid a widespread slowing of demand. The survey also suggested that inflation expectations among businesses have edged down, though they remain above pre-pandemic levels. It noted that many expect it will take longer than three years for inflation to return to the Bank of Canada’s 2% target. The share of compa
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