Canada’s economy grew by 3.1% in first quarter, raising odds of an interest rate hike
June 1, 2023
June 1, 2023
Advocacy
Canada’s economy grew at an annualized rate of 3.1 per cent in the first quarter, according to Statistics Canada, raising the odds of a Bank of Canada interest rate hike.
A consensus of economists had expected the economy — as measured by Gross Domestic Product — to grow at an annualized rate of 2.5 per cent in the first quarter. Even the Bank’s latest forecast had the economy growing at an annual rate of 2.3 per cent in the first quarter.
