Canada’s economy grows but September rate cut a possibility

Quick Summary:

MONTREAL: Canada’s economy grew more than expected in the second quarter, but falling per-capita gross domestic product (GDP) and softening household consumption should keep the Bank of Canada on track to cut rates for a third straight meeting this week.

The report is “unlikely to have a major impact on the Bank of Canada’s rate decision this week,” said Charles St-Arnaud, chief economist at Alberta Central.

He sees the bank cutting by 25 basis points at the remaining three meetings this year.

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Article Details

Category: EconomyBusiness

Markets: MalaysiaCanada

Topics: /Business/Business News GDP Bank of Canada Economy

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-09-02 @ 00:00:00 (13 hours ago)

News Timezone: GMT +8:00

News Source URL: thestar.com.my

Language: English

Article Length: 612 words

Reading Time: 4 minutes read

Sentences: 26 lines

Sentence Length: 24 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © The Star

News ID: 22324048

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About The Star

Main Topics: EconomyBusiness

Official Website: thestar.com.my

Update Frequency: 11 posts per day

Year Established: 1971

Headquarters: Malaysia

News Last Updated: 35 minutes ago

Coverage Areas: Malaysia

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News Language: English

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Publisher ID: #22

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