Half Years: Business Spending and Mortgage Rules

half years: That was the slowest growth in two and a half years, according to The Toronto Star. Lower prices for oil, a slump in real estate prompted by tighter mortgage rules and slower business spending are some of the culprits for the slowdown cited by Statistics Canada. Larry Mac Dougal / THE CANADIAN PRESS FILE PHOTO The latest bit of evidence came Friday, when Statistics Canada announced the Canadian economy grew by a paltry 0.1 per cent in the fourth quarter. As a result, most experts expect the Bank of Canada to leave its key overnight lending rate unchanged Wednesday at 1.75 per cent. Article Continued Below A more intense-than-expected moderation of economic growth came just as North American commodity markets sent Canadian heavy oil prices lower, resulting in an additional near-term growth shock as producers curtailed output, DePratto added. There is no denying that Canada is facing a perfect storm at present, said TD senior economist Brian DePratto in a report analyzing the new data. (news.financializer.com). As reported in the news.