This article was last updated on April 16, 2022
Canada: 
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The Bank of Canada made a clear indication on Tuesday, pointing towards lowering its forecasts for economic growth in the second half of 2013, and maybe next year as well, as it claims that more prudent consumer and an export sector that has yet to fully recover to be its main cause.
Senior deputy governor of BoC, Tiff Macklem, explained that the central bank is no longer expecting the July-September period to grow at a rate of 3.8 per cent as previously forecasted. In its place, the bank now predicts that the third quarter will most likely depict an economy that will advance at a more moderate pace of 2.0 per cent to 2.5 per cent, while forecasting the same speed to continue in the fourth quarter. Previously, central bank had predicted a 2.5 per cent expansion for the last three months of the year. The rate of Canadian dollar decreased in result of this news and was selling nearly a quarter of a cent lower in early afternoon trading.
These newly revealed projections were exposed in an advance of a speech to be delivered by Macklem to a business audience in Toronto. The announcement of these projects so early is unusual timing for the central bank, as it usually issues new forecasts during its quarterly monetary policy reports. The next report will be issued on Oct. 23. It has not been clear as to why the bank decided to jump the gun, other than that early indicators have pointed to a more subdued bounce-back for the third quarter.
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