Third teenager charged with second-degree murder | SaltWire #newsupdate #news #halifax #policeOTTAWA - Canada's gross domestic product increased by 0.2% in February, less than market expectations, and the economy likely expanded at a 2.5% annualized rate in the first quarter, data showed on Tuesday.
With the January revision and the March estimate, the economy is expected to grow 2.5% on an annualized basis. That would be the fastest growth rate since the first quarter on 2023. The Bank of Canada expects growth in the first quarter to be 2.8% after the 1% increase in the fourth quarter of 2023. The BoC has raised its key policy rate to a 23-year high of 5% to bring down inflation, and said earlier in April that a cut in June was possible if a recent cooling trend in inflation is sustained. Headline inflation came in at 2.9% in March, roughly in line with the bank's expectations.
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