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Canada's GDP Report Is Out Today — Here's What It Means for Your Wallet

Canada GDP Report June 2026 — MoneySavings.ca This morning, Statistics Canada releases its GDP by industry data for April 2026 — along with a flash estimate for May. The timing couldn't be more significant: Canada has technically entered a recession, and the Bank of Canada's next rate decision is just two weeks away on July 15 . Here's what today's report means for your mortgage, your job, and your savings — in plain English. What Is GDP and Why Does Today's Number Matter? GDP — Gross Domestic Product — is the broadest scorecard for how well Canada's economy is performing. It measures the total value of everything the country produces: goods, services, output across every industry. When GDP grows, businesses expand, hiring picks up, and incomes tend to rise. When it shrinks, the opposite happens. Today's release covers April 2026 data, plus Statistics Canada's advance estimate for May. The number that comes out this morning will either confirm that Cana...
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C$ falls to a four-week low against the US dollar as investors watch the economy's reaction to rate hikes

 


The Canadian dollar (C$) has slipped against the US dollar as investors are keeping a close eye on the economy's reaction to rate hikes. The C$ fell to a near four-week low against the US dollar, trading 0.4% lower at 1.3395 to the greenback, or 74.65 US cents. The Bank of Canada (BoC) has said that a slowdown in the domestic economy is an indication that its monetary policy is working. Money markets expect the central bank to cut its benchmark interest rate in April after holding it at a 22-year high of 5% for a third straight policy meeting in December. Canadians borrowed heavily during the pandemic to participate in a red-hot housing market. The BoC has said that the domestic economy is particularly sensitive to higher borrowing costs. 



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