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Bank of Canada projects slower economic growth in fourth fiscal quarter of 2020

Tiff Macklem, the Governor of the Bank of Canada said the bank projects a “just barely positive” economic growth in the fourth fiscal quarter of 2020 due to the resurgence in COVID-19 cases, weaker than previously expected. He also said the bank’s projections say the economy will see a total shrink of 5.5 per cent for 2020 as a whole.

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