The Bank of Canada's first-quarter business outlook and consumer expectations survey revealed that 11% of businesses expect inflation to be above 3% over the next two years, down from 16% in the fourth quarter of last year. 26% of businesses reported a real decline in sales over the past 12 months, down from 33% in the fourth quarter of last year. 9% of businesses expect Canada to enter a recession within the next year, down from 22% in the fourth quarter of last year.
