![]() ![]() ![]() This should reduce price pressures, leading to lower inflation,” he said. “The cumulative effect is that the excess demand in the economy has diminished substantially. ![]() Policymakers earlier this week voted to keep the cash rate at 5 per cent.Ĭanada’s economy shrank at a 0.2 per cent annualised pace in the second quarter, which means growth has averaged a little less than 1 per cent over the last three quarters, while the economy’s productive capacity grew at a rate of a little over 2 per cent. In a speech, Bank of Canada governor Tiff Macklem said the bank’s 2 per cent target is “now in sight”. Still, it had shed 6.4 per cent the last two sessions. ![]() Analysts were divided on what it meant for Apple as well as other non-Chinese tech companies.Īt the closing bell, Apple had pared somewhat less than half its early drop of more than 5 per cent. On Wall Street, Apple extended losses for a second session amid concerns that China has effectively banned iPhones at government offices as well as state-owned companies. ![]()
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