CALGARY, Alberta (Reuters) – The Bank of Canada said on Thursday that business investment should expand gradually overall but expressed concerns over increased trade frictions between the United States and the European Union.
Carolyn Wilkins, the bank’s senior deputy governor, said the expanded investment should be led by firms outside the oil and gas sector, which has been hit hard by low prices and transport constraints.
Investment - Sectors - Headline - Numbers - Business
“The growing investment in other sectors will show up in the headline numbers more clearly,” she told a business audience in Calgary, Canada’s energy capital, adding that attractive financing costs and government incentives should help.
The bank held interest rates steady as expected on Wednesday, saying there was evidence that the slowdown was temporary but signaling it would remain on the sidelines as it monitors economic developments.
Wilkins - Card - Bank - Projections - Trade
Wilkins said the wild card in the bank’s projections was the current trade war between the United States and China, adding that “we see the potential for more friction” between...
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