The worse-than-expected 0.1% m/m contraction in GDP in April and equivalent sized estimated fall in May suggests that growth was flat at best in the second quarter, with a clear risk of a contraction. This is why we expect the Bank of Canada to resume its easing cycle with two more interest rate cuts later this year – slightly more than markets expect.
Subscriber content
Read this in full, free
Start a free trial and use one of your 10 free starter credits to unlock this piece.