GDP stays positive even as high rates remain
The Canadian economy continued to show resiliency this spring. Statistics Canada reports that Gross Domestic Product stayed in positive territory. The Bank of Canada will make its next interest rate announcement on Sept. 6.
Business leaders will be watching closely as high-interest rates used to fight inflation have a direct impact on the cost of investment. A Globe and Mail interview with CIBC World Markets’ deputy chief economist Benjamin Tal is a good read for insights to help cut through the confusing times. Tal said he thinks interest rates have peaked or are close to the peak. He added that conditions are right for rapid growth in business investment in 2025 as inflation subsides and productivity increases thanks to innovations such as AI.
Business leaders will be watching closely as high-interest rates used to fight inflation have a direct impact on the cost of investment. A Globe and Mail interview with CIBC World Markets’ deputy chief economist Benjamin Tal is a good read for insights to help cut through the confusing times. Tal said he thinks interest rates have peaked or are close to the peak. He added that conditions are right for rapid growth in business investment in 2025 as inflation subsides and productivity increases thanks to innovations such as AI.
