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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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U.S. and Ukraine Finalize Critical Minerals Agreement Amid Ongoing Conflict

 

In a significant development, the United States and Ukraine have reached an agreement on the terms of a critical minerals deal. This agreement comes amid ongoing efforts to end the conflict between Ukraine and Russia. The deal is expected to see the U.S. jointly develop Ukraine's mineral wealth, with revenues going to a newly-created fund that would be "joint for Ukraine and America".

The agreement follows a series of intense negotiations between Ukrainian President Volodymyr Zelenskyy and U.S. President Donald Trump. The deal aims to compensate for the billions of dollars worth of wartime aid that Ukraine received under former President Joe Biden. Ukrainian officials hope that this agreement will improve ties with the Trump administration and lay the groundwork for a long-term U.S. security commitment.

President Zelenskyy is expected to travel to Washington, D.C., later this week to sign the agreement with President Trump. The deal is seen as a crucial step towards reaching a ceasefire with Russia and ensuring a stable and prosperous future for Ukraine.

The critical minerals deal is central to Kyiv's push to win support from the U.S. as President Trump seeks to rapidly end the war with Russia. The agreement includes provisions for the joint development of Ukraine's mineral resources, including oil and gas, after the U.S. withdrew its demand for a $500 billion share in potential revenue from resource exploitation.

This landmark agreement marks a significant milestone in the ongoing efforts to bring peace and stability to the region while fostering economic cooperation between the U.S. and Ukraine.



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