CIBC senior economist Andrew Grantham said solid annualized growth in the second quarter means the Bank of Canada will likely go ahead with another supersized rate hike in September.That solid growth, combined with the details of today’s data which suggests supply constraints, rather than slowing demand, were holding back overall growth, means that the Bank of Canada is still on course to deliver another non-standard rate hike at its next meeting,” Grantham said in an email.
On Thursday, the U.S. Commerce Department said the U.S. economy contracted for a second consecutive quarter, but CIBC economists expect growth to bounce back over the remainder of the year.
Largely due to the substantial increases in food and gas. Adjust it for inflation and get back to me
Everything in C*ck Trudeau's crazy woke town is a lie, including this planted WEF Racket article
It avoided contraction only because of the Billions Trudeau is still spraying around with a fire hose. All borrowed money when interest rates are rising. Can you say Trudeau Financial Mess 2.0
So we can keep the current definition of “recession” for the time being.
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