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- BoC predicts brief recession in Euro area, sees weak US GDP through 1H 2012
BoC predicts brief recession in Euro area, sees weak US GDP through 1H 2012
- cuts Canada 2011 GDP view to 2.1%, 2012 to 1.9%; ups 2013 view to 2.9%;
- Economy to return to capacity by end-2013 vs prior forecast of mid-2012;
- Core CPI to decline through 2012, return to 2% by end-2013;
- growth to rebound in 3Q, but economic momentum has slowed, to remain modest through mid-2012;
- domestic demand to stay principal driver of growth, but at more subdued pace.
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