The possibility of the Bank of Canada hiking rates again this summer is 'justifiably gaining traction' From alicjawithaj
Read full articleCanada’s economy grew 3.1 per cent annually in the first quarter of the year, Statistics Canada said on Wendesday.
Statistics Canada said real GDP growth in the first quarter was driven by favourable international trade and growth in household spending, and moderated by declines in housing and business investments. The increase in economic growth could add to pressure on the Bank of Canada to consider hiking rates again when the central bank issues its rate decision next week. The Bank of Canada had predicted GDP growth of 2.3 per cent in the first quarter.
Exports of goods and services increased 2.4 per cent in the quarter, led by cars and trucks, outpacing a 0.2 per cent increase in imports.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Wednesday's GDP data will be key for Bank of Canada rate decision: Strategist - BNN BloombergWith gross domestic product (GDP) figures for the Canadian economy set to be released this week, one strategist said the data could be crucial for the Bank of Canada as it decides whether to raise interest rates or not.
Read more »
Economy's growth beats expectations of Bay Street and Bank of CanadaGDP growth could pressure Bank of Canada to hike interest rates again. Find out more
Read more »
Economy's growth beats expectations of Bay Street and Bank of CanadaGDP growth could pressure Bank of Canada to hike interest rates again. Find out more
Read more »
Economy's growth beats expectations of Bay Street and Bank of CanadaGDP growth could pressure Bank of Canada to hike interest rates again. Find out more
Read more »
What the latest GDP report means for a Bank of Canada rate hike - BNN BloombergEconomists says Canada’s latest GDP figures raise the odds of further rate hikes from the Bank of Canada, though the central bank may wait for more data before stepping off the sidelines.
Read more »
Canada unveils plan for regulating offshore wind energy projects in Atlantic Canada | CBC NewsCanada's offshore accords with Nova Scotia and Newfoundland and Labrador are being updated to promote development of offshore wind farms, but it's not clear yet whether any compensation will be paid to fishermen displaced by wind farms.
Read more »