What Canadas GDP growth means for the upcoming interest rate decision – National [Video]

Canada’s economy grew in the first three months of the year, but the threat of U.S. President Donald Trump’s tariffs and the developing trade war may have led businesses to boost production ahead of what many say is still expected to be a difficult stretch for economies globally.

This means Canadians hoping for an interest rate cut may be left waiting a little bit longer if the Bank of Canada determines there’s no hurry given the growth in those latest economic numbers.

“Canada’s economy is strong enough for the Bank of Canada to remain on hold next Wednesday,” says vice-president and head of capital markets economics Derek Holt at Scotiabank.

In March, gross domestic product, or GDP, was up by 0.1 per cent after falling in February by 0.2 per cent, according to Statistics Canada. 

GDP is the measure of an economy’s productivity by adding the total value of all goods and services produced …