Through the Fog, Banking Holds Steady
In the near term, output in Canada’s banking industry will grow moderately. This year, output will increase by 2.5 per cent. In 2027, the pace of growth will ease slightly to 2.2 per cent as the last of the current mortgage-renewal cohort unfolds and businesses continue to operate with considerable uncertainty.
What is the percentage of all outstanding mortgages in Canada and how much are payments expected to rise when renewals begin? Is the banking industry’s growth anticipated to strengthen, and when? Regarding employment growth, which specialized roles are employers expected to prioritize? Where is employment growth expected to be more subdued? And will wage growth remain healthy?
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