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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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Ukraine's Minerals Deal: A Strategic Shift Amid Controversy

Senior Russian security official Dmitry Medvedev has criticized the recent minerals agreement between Ukraine and the United States, claiming it forces Kyiv to pay for U.S. military aid with its natural resources. The deal, signed in Washington, grants the U.S. preferential access to Ukrainian minerals and establishes a joint Reconstruction Investment Fund to support Ukraine's post-war recovery.

Medvedev, a former Russian president, described the agreement as a move that exploits Ukraine's national wealth, calling it a "payment for military supplies." The deal comes at a time when the U.S. is reportedly frustrated by the lack of progress in peace talks between Moscow and Kyiv.

While Ukrainian officials have emphasized that the agreement ensures Ukraine retains ownership of its resources and does not create debt obligations, Medvedev's remarks highlight the geopolitical tensions surrounding the deal. The agreement also signals a shift in U.S. policy under President Trump, who has sought compensation for aid provided to Ukraine during its conflict with Russia.

The minerals deal is seen as a strategic partnership aimed at strengthening Ukraine's economy and security, but it has sparked debate over its implications for Ukraine's sovereignty and long-term stability.

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