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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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Trade War Escalates: China Strikes Back at U.S. Tariffs

China has retaliated against U.S. President Donald Trump's decision to increase tariffs on Chinese goods to 145%, raising its own tariffs on American imports to 125%. This tit-for-tat escalation has intensified the trade war between the world's two largest economies, sending shockwaves through global markets.

The turmoil has left foreign leaders grappling with the disruption to international trade and supply chains. Stocks have plummeted, the dollar has weakened, and U.S. government bonds have faced a sell-off. Gold, often seen as a safe haven during economic uncertainty, has reached record highs.

While Trump expressed hope for a deal with China, the uncertainty has fueled fears of a global recession. China's Finance Ministry has condemned the U.S. tariffs as "unilateral bullying and coercion," signaling that Beijing is prepared to fight to the end.

The escalating trade conflict underscores the fragility of the global economy and the challenges of navigating such high-stakes negotiations. What do you think about this unfolding drama?

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