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Canada's Economy Just Grew 3.3% — Here's Why That Makes a September Rate Cut Even Less Likely

  Published August 29, 2026 If you've been holding out hope that a slowing economy might finally push the Bank of Canada toward a rate cut, Friday's numbers just closed that door a little further. Statistics Canada reported that the Canadian economy grew at an annualized pace of 3.3% in the second quarter — the fastest rate since 2023 — and revised figures show the first quarter expanded 0.3% rather than shrinking as originally reported. That confirms Canada never actually slid into a technical recession this year. It's good news for the economy. It's less good news if you were counting on lower borrowing costs anytime soon. What actually drove the growth The rebound was broad-based. Exports posted their strongest performance in 39 months, business investment in factories, equipment and commercial real estate jumped, and consumer spending held up as well. On a per-person basis, output grew at a 3.8% annualized clip — the quickest pace since late 2021, even with Canada...
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Tragedy Strikes: Israeli Airstrike on Gaza School Leaves Dozens Dead

 

In a devastating incident, an Israeli airstrike targeted a school in central Gaza that was sheltering displaced Palestinians. The attack resulted in the deaths of more than 30 people, including 23 women and children. The school, run by the United Nations agency for Palestinian refugees (UNRWA), was filled with civilians who had fled previous Israeli offensives and bombardments in northern Gaza.

Witnesses reported that the predawn strike hit the al-Sardi School, where families sought refuge. The victims included an old man and two children, one with a head injury. The Al-Aqsa Martyrs Hospital in nearby Deir al-Balah was overwhelmed by casualties from the attack, with at least 33 dead, including 14 children and nine women. Videos circulating online showed wounded people being treated on the hospital floor, highlighting the strain on Gaza’s medical facilities.

This tragic event underscores the ongoing conflict and the toll it takes on civilians caught in the crossfire. As Israel continues its offensive in the Gaza Strip, innocent lives remain at risk, and the world watches in horror.



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