Canada S Economic Growth Misses Expectations But Unlikely To Prevent Another Big Boc Rate Hike
Softening growth, however, is unlikely to prevent the Bank of Canada from another outsized rate hike when it makes its monetary policy decision next week, economists said. Canada’s economy grew at an annual rate of 3.3 percent in the second quarter, Statistics Canada said Wednesday, driven by strong consumer spending and business investment in inventories. That was tempered by a decline in residential spending and a rise in imports relative to exports, which pushed the quarterly GDP result below the Bank of Canada’s forecast for annual growth of 4 percent and the Bay Street consensus of 4 ....