Reported 9 months ago
Canada's economy is projected to show a 1.8% growth rate in the second quarter, slightly surpassing expectations, with growth in manufacturing, real estate, and finance offsetting declines in retail and wholesale trade. This growth trajectory keeps the Bank of Canada on course for potential further interest rate cuts as the economy continues to operate below its full potential, with a moderate inflation rate. Analysts anticipate the central bank may maintain borrowing costs in the upcoming months and potentially ease rates again in September based on the latest GDP report and economic indicators.
Source: YAHOO