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The Bank of Canada poll- Positive sentiments in business circles are 'widespread'

Positive sentiment in the Canadian business community has become widespread: businesses are increasing investment and are increasing plans to hire new employees in order to fully meet the increasing external as well as domestic demand. This conclusion can be drawn from the last quarterly survey conducted by the regulator.

The results of this poll are likely to outweigh the balance in the direction of raising the key rate at the next meeting, scheduled for January 17. Recently, there has been an increase in expectations that the policy will be changed in the direction of tightening, as the recent macroeconomic indicators responsible for the labor market have proved to be strong. According to the relevant report, unemployment was at the 40-year low, with 79,000 new vacancies created.

The survey for the last quarter of last year showed that the share of enterprises that reported the presence of varying degrees of complexity against the backdrop of a surge in demand has become the most significant since the last financial crisis.

The leading indicator of capital expenditures has risen to a post-crisis peak, with almost half of respondents intending to increase their spending on equipment in the coming year. Plans for the admission of new employees have also been revised upward, and the shortage of specialists in the employment market has increased compared to what it was a year earlier.