Preview: Canada Apr GDP data expected at 08:30 ET (12:30 GMT)
**Consensus expectations: - M/M: +0.4%e v -0.1% prior - Y/Y: 0.9%e v 0.4% prior Recent comments: - On Jun 24th Bank of Canada (BOC) Summary of Deliberations (June Minutes); Economy was 'not clearly in recession' despite two quarters of contraction; Leaving rates unchanged balanced risks of inflation and weak growth - On Jun 10th Bank of Canada (BOC) left Interest Rates unchanged at 2.25% (as expected) for its 5th straight pause under the current phase of its easing cycle. Statement noted if U.S imposed significant new trade restrictions,might need to cut rates. Would be watching closely for evidence of a broadening in price pressures. For now, holding rates unchanged balanced the risks **Insight: BOC has cut Interest Rates eight times in the current easing cycle by a total of 275bps. The last cut was in Oct 2025 - The last rate hike was back in July 2023
**Consensus expectations: - M/M: +0.4%e v -0.1% prior - Y/Y: 0.9%e v 0.4% prior Recent comments: - On Jun 24th Bank of Canada (BOC) Summary of Deliberations (June Minutes); Economy was 'not clearly in recession' despite two quarters of contraction; Leaving rates unchanged balanced risks of inflation and weak growth - On Jun 10th Bank of Canada (BOC) left Interest Rates unchanged at 2.25% (as expected) for its 5th straight pause under the current phase of its easing cycle.
Statement noted if U.S imposed significant new trade restrictions,might need to cut rates.
Would be watching closely for evidence of a broadening in price pressures.
For now, holding rates unchanged balanced the risks **Insight: BOC has cut Interest Rates eight times in the current easing cycle by a total of 275bps.
The last cut was in Oct 2025 - The last rate hike was back in July 2023