Economic Growth in Canada
GDP MoM (Canada)
The BOC to Hold Rates Unchanged, But Expect More Dovish Tones
Starts Wednesday, December 9, 2020 at 15:00
Updated Tuesday, December 1, 2020
The Canadian economy went through a major decline in Q2 due to the coronavirus, but it surged back up in Q3. Th Bank of Canada cut interest rates several times back then, bringing then down from 1.75% to 0.25% in March, where they remain until now. The BOC might not cut rates again this time, but with the new lock-downs they are expected to turn increasingly dovish. Follow us for the live coverage of this event by experienced analysts.
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About GDP MoM (Canada)
Released monthly by Statistics Canada, Canadian GDP (MoM) is a primary metric facing economic output. It is a valuation of all goods and services produced domestically over the previous calendar month.GDP is a crucial measurement of Canada’s economic prowess. Heavily dependent upon the energy, agricultural, and services sectors, Canada is a top 20 global economic power. Short-term trends in GDP (MoM) impact the pricing of the CAD greatly. Growing GDP numbers that are adjusted for inflation are interpreted as bullish, while lagging figures are bearish.