Economy unlikely to rebound from oil slump

The Bank of Canada's latest Business Outlook Survey shows that not only is the fallout from the slump in oil prices still taking a heavy toll on the economy, but the pick-up in non-energy sectors remains underwhelming too. This suggests that, after an atrocious start to the year, any pick-up in activity will be modest. Accordingly, this Survey is another reason to believe that the Bank of Canada will cut its policy rate at next week's meeting.