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MNI BRIEF: Canada To Avoid Recession Next Year, BDC Says

(MNI) OTTAWA

Canada will avoid a recession again next year and give the central bank scope to hold interest rates longer than some investors predict, the federal government's small business lender said in a report Thursday.

"While 2024 will probably prove less tumultuous than 2023, growth will continue to slow against a backdrop of high interest rates," Montreal-based Business Development Bank of Canada said in its monthly outlook. "Canada's economy should avoid recession again next year, but growth will still be elusive."

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Canada will avoid a recession again next year and give the central bank scope to hold interest rates longer than some investors predict, the federal government's small business lender said in a report Thursday.

"While 2024 will probably prove less tumultuous than 2023, growth will continue to slow against a backdrop of high interest rates," Montreal-based Business Development Bank of Canada said in its monthly outlook. "Canada's economy should avoid recession again next year, but growth will still be elusive."

Keep reading...Show less