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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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Russia Resumes Strikes on Ukraine as Easter Ceasefire Ends

 

Russia launched a fresh wave of missile and drone attacks on Ukraine early Monday, just hours after the expiration of a 30-hour Easter ceasefire declared by President Vladimir Putin. The strikes targeted multiple regions, including Kharkiv, Dnipropetrovsk, and Cherkasy, prompting air raid alerts across half of Ukraine.

Ukraine’s Air Force reported that 96 drones and three missiles were fired overnight, with air defense units intercepting 42 drones and redirecting 47 others. Officials in Mykolaiv confirmed missile strikes but did not report immediate casualties or major damage.

The ceasefire, which began on Saturday evening, was dismissed by Ukrainian President Volodymyr Zelenskyy as a mere political maneuver. He had called for an extended 30-day truce, arguing that a longer pause could foster genuine peace efforts. However, the Kremlin refused to prolong the ceasefire, leading to an immediate resumption of hostilities.

Both Moscow and Kyiv accused each other of violating the truce. Ukraine reported nearly 3,000 breaches, with Pokrovsk experiencing the most intense shelling. Meanwhile, Russia’s Ministry of Defense claimed Ukrainian forces fired on Russian positions 444 times and launched over 900 drone attacks, resulting in civilian casualties.

The renewed violence casts doubt on diplomatic efforts to secure a lasting ceasefire. U.S. President Donald Trump, who has been pushing for peace negotiations, expressed optimism that a deal could be reached “this week”. However, with both sides escalating attacks, the prospect of a long-term resolution remains uncertain.


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