The Bank of Canada says consumers were less pessimistic about their finances as summer wound down but are still not upbeat about the situation.
The central bank’s survey of consumer expectations released Friday found fewer Canadians predicted their finances will worsen over the next year.
It attributed the improvement to lower inflation and recent cuts in the bank’s policy interest rate but indicated it hasn’t been enough to really unleash spending.
“Most consumers expect to spend more on essential purchases and housing costs in the year ahead, while fewer anticipate increasing their spending on discretionary items, such as restaurant meals, entertainment and vacations,” the survey said.
Consumers
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