Canada ’s gross domestic product increased by 0.2 per cent in February, less than market expectations, and the economy likely expanded at a 2.5 per cent annualized rate in the first quarter, data showed on Tuesday.
With the January revision and the March estimate, the 2.5 per cent estimated growth in the first quarter would be the fastest growth rate since the first quarter on 2023. Economic growth stalled in the second half of last year and the rebound since has eased pressure on the central bank to lower interest rates to avoid a downturn. Still, money markets see a more-than 50 per cent chance of a rate cut at the bank’s next announcement on June 5, while a cut in July is fully priced in.
Quarter Growth Inflation Bank Canada Dollar Rate Bank Of Canada Statistics Canada Reuters
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