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Canada to Resist Fed Rate-Cut Pressure as Inflation Heats Up
Canadian GDP figures for April should show the first back-to-back expansion since a soft patch late last year, making it still less likely the Bank of Canada will take any marching orders from the Federal Reserve when it comes to interest-rate cuts. Governor Stephen Poloz on Friday will see GDP figures for April expected to show the first back-to-back expansion since a soft patch late last year. Poloz this week may also be reading drafts of the Bank's own quarterly survey of business executives due out later that morning. That survey may pick up glimmers of hope on trade after the U.S. lifted steel and aluminum ... (full story)