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Canada Economic Growth Misses Forecasts, Backing Rate Pause

From bnnbloomberg.ca

The Canadian economy rebounded slightly last month but still saw little growth, backing a case for the central bank to keep rates on hold despite inflation remaining elevated. Preliminary data suggest gross domestic product edged up 0.1% in August, Statistics Canada reported Friday in Ottawa, as declines in the retail and oil and gas industries partly offset increases in the wholesale and finance sectors. That followed a flat GDP reading in July, which missed expectations for a 0.1% increase in a Bloomberg survey. Bonds rallied after the numbers were released, driving the Canada two-year benchmark yield to 4.876%, ... (full story)

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  • Category: Fundamental Analysis