Bank of Canada Governor warns of Canada's major economic challenge: low productivity growth due to insufficient business investment.

Bank of Canada Governor Tiff Macklem warns that Canada's productivity growth is its major economic challenge and urges policymakers to address the issue of low business investment. Macklem states that while Canada has a strong job market with high labour force participation, a solid education system, and strong immigration, the lack of productivity growth presents a significant weakness.

June 24, 2024
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