BoC says oil prices are hurting more than just the oil industry

BoC says oil prices are hurting more than just the oil industry

BoC says oil prices are hurting more than just the oil industry The Bank of Canada’s latest business outlook shows that the impact of lower oil prices is being felt far beyond the oil industry. The sector’s supply chain is also suffering and a greater number are expecting a downturn in sales. Future investments in machinery are also expected to be lower especially in the goods sector and those directly connected to the oil industry. Hiring across many sectors is expected to be weaker.