Canadian bank expects short-lived recession
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July 11, 2022 12:00 AM
TORONTO (AP) — A report issued Thursday by the Royal Bank of Canada says the country is headed towards a recession in 2023, but it will be short-lived and not as severe as prior downturns.
RBC economists said that soaring food and energy prices, rising interest rates and ongoing labor shortages will push the economy into a “moderate contraction” next year...
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