Bank of Canada downgrades Canada’s 2019 growth forecast

The economy was operating close to full tilt for most of 2017 and 2018, the bank said, before a sudden deceleration in the final three months of last year. The slowdown was largely caused by a drop in oil prices and unexpectedly weak numbers for investment and exports – and the bank says its effects have spilled into 2019.

• Bank of Canada holds key interest rate at 1.75%, downgrades economic forecast