![]() Initial figures for February showed that GDP increased by another 0.3%.Īccording to the Bank of Canada, the economy must decelerate for inflation to achieve its 2% objective. This surpasses the prediction of a 0.3% increase. In January, the Canadian economy saw a growth of 0.5% which can be attributed to an upswing in both goods-producing industries. This was due to the latest domestic data revealing that the Canadian economy grew faster than anticipated at the beginning of the year. ![]() ![]() However, the CAD remains close to its highest level in over 5 weeks. The Canadian dollar experienced a decline against the US dollar today as it trades close to 1.3540.
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