Canada's Q3 GDP grew 1%, under forecast, potentially leading to an interest rate cut in December.

Statistics Canada will release the third-quarter GDP report today, showing a 1% annualized growth rate, below the Bank of Canada's forecast of 1.5%. Despite the growth, RBC predicts a decline in real GDP per capita. The report precedes the Bank of Canada's interest rate announcement on December 11, where a rate cut is expected due to inflation reaching the 2% target. The GDP figures will likely influence the size of the cut.

November 29, 2024
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