Blog

Jul 04, 2023

Interest Rates: Bank of Canada’s Next Move Depends on Friday Economic Data

Clearer signs of a cooling economy in the second quarter and a weaker July forecast will likely be enough to convince the Bank of Canada to hold rates steady at its meeting next week. The gross

Clearer signs of a cooling economy in the second quarter and a weaker July forecast will likely be enough to convince the Bank of Canada to hold rates steady at its meeting next week.

The gross domestic product figures due Friday are the last key input before the central bank’s decision on Sept. 6. Economists in a Bloomberg survey expect June output to shrink 0.2%, this year’s first contraction, ending the quarter with 1.2% annualized growth.