{"id":46522,"date":"2024-04-30T13:13:23","date_gmt":"2024-04-30T13:13:23","guid":{"rendered":"https:\/\/www.pantheregroup.com\/2024\/04\/30\/canadas-economy-is-losing-momentum\/"},"modified":"2024-04-30T13:13:23","modified_gmt":"2024-04-30T13:13:23","slug":"canadas-economy-is-losing-momentum","status":"publish","type":"post","link":"https:\/\/www.pantheregroup.com\/2024\/04\/30\/canadas-economy-is-losing-momentum\/","title":{"rendered":"Canada&#8217;s economy is losing momentum"},"content":{"rendered":"<div style=\"text-align:center\"><\/div><p> \n<\/p>\n<div id=\"\">\n<header aria-label=\"Beginning of Article\" class=\"article-header article-header--story\">\n<nav aria-label=\"Breadcrumb\" class=\"breadcrumbs\" data-aqa=\"nav-breadcrumb\">\n<p>Breadcrumb Trail Links<\/p>\n<ol class=\"breadcrumbs__items list-unstyled\">\n<li class=\"breadcrumbs__item\">News<\/li>\n<li class=\"breadcrumbs__item\">Economy<\/li>\n<\/ol>\n<\/nav>\n<div class=\"article-header__detail\">\n<div class=\"article-header__detail__texts\">\n<p class=\"article-subtitle\">Slowing GDP puts pressure on Bank of Canada to cut rate in June<\/p>\n<div class=\"callout callout--noindent flex-align-center flex-justify-between\" data-evt-val=\"{\" control_fields=\"\" data-evt=\"visible\" data-evt-typ=\"element_view\"><span class=\"callout__text\"> Get the latest from Naimul Karim straight to your inbox <\/span><button class=\"button button--icon button--primary-alt\" data-id-login-redirect=\"https:\/\/financialpost.com\/author\/nkarim\/newsletters\/\" type=\"button\"><span class=\"button__text\">Sign Up<\/span> <span aria-hidden=\"true\" class=\"button__icon\"> <svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewbox=\"0 0 11 11\" width=\"11\"><polygon points=\"1.1 0 7 6 1.1 12 0 10.9 4.8 6 0 1.1\"\/><\/svg> <\/span><\/button><\/div>\n<div class=\"article-meta\">\n<p><span class=\"published-date__since\">Published Apr 30, 2024<\/span> \u00a0\u2022\u00a0 <span class=\"updated-date__since\">Last updated 2\u00a0hours ago<\/span> \u00a0\u2022\u00a0 <span class=\"published-date__word-count\">3 minute read<\/span><\/p>\n<div class=\"article-meta__bottom\">\n<div class=\"bookmark-wrapper\">\n<div class=\"popover\" data-aqa=\"popover\" data-click-to-appear=\"True\" data-container=\"\" data-container-offset=\"\" data-no-style=\"\" data-popover-component=\"\" data-position=\"top\" data-sticky=\"\" data-tail-offset=\"200\" data-tail-position=\"right\"><button class=\"popover__trigger bookmark-button\"><span class=\"save-article-button save-article-button--default\" title=\"Save article\" data-article-id=\"b7308f5f-5926-4e75-9c75-d9d9c41775fd\" data-evt-skip-click=\"true\"\/><\/button><\/p>\n<div aria-describedby=\"popover-desc-popover-bookmark\" class=\"popover__content\" hidden=\"\" role=\"dialog\">\n<div class=\"popover__content__wrapper\">\n<div class=\"popover__content__text\" id=\"popover-desc-popover-bookmark\">\n<div class=\"bookmark__popover__content\">\n<p>You can save this article by registering for free here. Or sign-in if you have an account.<\/p>\n<\/div>\n<\/div>\n<p><button class=\"popover__content__close\" data-evt-skip-click=\"true\" title=\"Close\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" xmlns:xlink=\"http:\/\/www.w3.org\/1999\/xlink\" viewbox=\"0 0 12 12\" class=\"icon--close\" height=\"12\" version=\"1.1\" width=\"12\"><polygon points=\"12 0.95 11.05 0 6 5.05 0.95 0 0 0.95 5.05 6 0 11.05 0.95 12 6 6.95 11.05 12 12 11.05 6.95 6\"\/><\/svg><\/button><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<figure class=\"featured-image\" data-aqa=\"featured-image\"><picture class=\"featured-image__ratio\"><\/source><\/source><\/source><\/source><\/picture><figcaption class=\"featured-image__caption image-caption\"><span class=\"caption\">Statistics Canada expects the economy to have grown by 0.6 per cent in the first quarter of 2024. <\/span> <span class=\"credit\">Photo by Jason Franson<\/span> \/<span class=\"distributor\">The Canadian Press<\/span><\/figcaption><\/figure>\n<\/div>\n<\/header>\n<section class=\"article-content__content-group article-content__content-group--story\">\n<h2 class=\"visually-hidden\">Article content<\/h2>\n<p data-async=\"\">The Canadian economy lost momentum in February as it grew at a slower pace than both analyst expectations and Statistics Canada\u2019s previous prediction, increasing the pressure on the Bank of Canada for a potential interest rate cut in mid-2024.<\/p>\n<p data-async=\"\">Real gross domestic product (GDP), which measures the value of goods and services for a specific time frame, edged up 0.2 per cent in February, after a 0.5 per cent gain in January, primarily due to growth in the transportation and warehousing sector sectors.<\/p>\n<\/section>\n<div class=\"ad__section-border article-content__ad-group ad_counter_2\">\n<section aria-describedby=\"advertisment1974956063832744527594708178829312\" class=\"ad\">\n<p>Advertisement 2<\/p>\n<div 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https:\/\/dcs-static.gprod.postmedia.digital\/16.0.2\/websites\/images\/identity\/logo-identity-fp.svg 1024w, https:\/\/dcs-static.gprod.postmedia.digital\/16.0.2\/websites\/images\/identity\/logo-identity-fp.svg 1280w, https:\/\/dcs-static.gprod.postmedia.digital\/16.0.2\/websites\/images\/identity\/logo-identity-fp.svg 1600w\" alt=\"Financial Post\" class=\"market-logo\" height=\"37\" loading=\"lazy\" fifu-data-src=\"https:\/\/dcs-static.gprod.postmedia.digital\/16.0.2\/websites\/images\/identity\/logo-identity-fp.svg\" width=\"280\"\/><\/p>\n<div class=\"intro-body__premium hidden\">\n<p>THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLY<\/p>\n<p class=\"identity-intro__description\">Subscribe now to read the latest news in your city and across Canada.<\/p>\n<ul class=\"list-unstyled list-checkmark\">\n<li>Exclusive articles from Barbara Shecter, Joe O&#8217;Connor, Gabriel Friedman, Victoria Wells and others.<\/li>\n<li>Daily content from Financial Times, the world&#8217;s leading 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ePaper, an electronic replica of the print edition to view on any device, share and comment on.<\/li>\n<li>Daily puzzles, including the New York Times Crossword.<\/li>\n<\/ul>\n<\/div>\n<div class=\"intro-body__anonymous\">\n<p>REGISTER \/ SIGN IN TO UNLOCK MORE ARTICLES<\/p>\n<p class=\"identity-intro__description\">Create an account or sign in to continue with your reading experience.<\/p>\n<ul class=\"list-unstyled list-checkmark\">\n<li>Access articles from across Canada with one account.<\/li>\n<li>Share your thoughts and join the conversation in the comments.<\/li>\n<li>Enjoy additional articles per month.<\/li>\n<li>Get email updates from your favourite authors.<\/li>\n<\/ul>\n<\/div>\n<\/div>\n<\/header>\n<div class=\"identity-screen m-x-0 p-x-0 col-xs-12 col-md-6 flex-justify-center flex-align-center\" aria-live=\"assertive\">\n<section class=\"sail\" data-account-id=\"b9d3df2fccd108b5eff3c44f573b2cd6\" data-sailthru-personalization-engine=\"\" data-sailthru-personalization-engine-component=\"\"\/>\n<div class=\"m-x-0 p-x-0 col-xs-12 col-sm-6 col-md-12 flex-align-justify-center\" data-auth-component=\"\" id=\"auth-screen-form\">\n<div class=\"identity-screen-form--active w-full flex-align-justify-center\">\n<div class=\"identity-screen-form identity-screen__content w-full\">\n<h2 class=\"blocker-title\">Sign In or Create an Account<\/h2>\n<p><span class=\"identity-divider__line\"\/><span class=\"identity-divider__text\">or<\/span><span class=\"identity-divider__line\"\/><\/p>\n<\/div>\n<\/div>\n<\/div>\n<footer class=\"identity-footer identity-screen__content m-x-0 p-x-0 col-sm-6 col-md-12\"\/><\/div>\n<\/section>\n<\/div>\n<section class=\"article-content__content-group article-content__content-group--story\">\n<p>Article content<\/p>\n<\/section>\n<section class=\"article-content__content-group article-content__content-group--story\">\n<p>Article content<\/p>\n<p>The growth was lower than the government agency\u2019s previous estimate \u2014 made in March \u2014 of 0.4 per cent, and analyst expectations of 0.3 per cent.<\/p>\n<p>Statistics Canada predicted unchanged growth for March in its advanced estimate. Overall, the agency expects the economy to have grown by 0.6 per cent in the first quarter, though the actual figure will not be available until the end of May.<\/p>\n<figure class=\"embedded-image\" data-aqa=\"embed-image\"><picture class=\"embedded-image__ratio\"><img decoding=\"async\" src=\"data:image\/gif;base64,R0lGODlhAQABAIAAAAAAAP\/\/\/ywAAAAAAQABAAACAUwAOw==\" fifu-lazy=\"1\" fifu-data-sizes=\"auto\" fifu-data-srcset=\"https:\/\/i2.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/04\/march-gdp-may-2024.jpg?quality=5&strip=all&w=100&sig=H2UtkZ07sa3nsquLijJNyg&ssl=1&w=75&resize=75&ssl=1 75w, https:\/\/i2.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/04\/march-gdp-may-2024.jpg?quality=5&strip=all&w=100&sig=H2UtkZ07sa3nsquLijJNyg&ssl=1&w=100&resize=100&ssl=1 100w, https:\/\/i2.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/04\/march-gdp-may-2024.jpg?quality=5&strip=all&w=100&sig=H2UtkZ07sa3nsquLijJNyg&ssl=1&w=150&resize=150&ssl=1 150w, https:\/\/i2.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/04\/march-gdp-may-2024.jpg?quality=5&strip=all&w=100&sig=H2UtkZ07sa3nsquLijJNyg&ssl=1&w=240&resize=240&ssl=1 240w, https:\/\/i2.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/04\/march-gdp-may-2024.jpg?quality=5&strip=all&w=100&sig=H2UtkZ07sa3nsquLijJNyg&ssl=1&w=320&resize=320&ssl=1 320w, https:\/\/i2.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/04\/march-gdp-may-2024.jpg?quality=5&strip=all&w=100&sig=H2UtkZ07sa3nsquLijJNyg&ssl=1&w=500&resize=500&ssl=1 500w, https:\/\/i2.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/04\/march-gdp-may-2024.jpg?quality=5&strip=all&w=100&sig=H2UtkZ07sa3nsquLijJNyg&ssl=1&w=640&resize=640&ssl=1 640w, https:\/\/i2.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/04\/march-gdp-may-2024.jpg?quality=5&strip=all&w=100&sig=H2UtkZ07sa3nsquLijJNyg&ssl=1&w=800&resize=800&ssl=1 800w, https:\/\/i2.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/04\/march-gdp-may-2024.jpg?quality=5&strip=all&w=100&sig=H2UtkZ07sa3nsquLijJNyg&ssl=1&w=1024&resize=1024&ssl=1 1024w, https:\/\/i2.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/04\/march-gdp-may-2024.jpg?quality=5&strip=all&w=100&sig=H2UtkZ07sa3nsquLijJNyg&ssl=1&w=1280&resize=1280&ssl=1 1280w, https:\/\/i2.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/04\/march-gdp-may-2024.jpg?quality=5&strip=all&w=100&sig=H2UtkZ07sa3nsquLijJNyg&ssl=1&w=1600&resize=1600&ssl=1 1600w\" alt=\"March GDP\" class=\"embedded-image__image lazyload\" data-src=\"https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/04\/march-gdp-may-2024.jpg?quality=90&strip=all&w=288&sig=QS1eayc85t78UqRgVtH-Og\" data-srcset=\"https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/04\/march-gdp-may-2024.jpg?quality=90&strip=all&w=288&sig=QS1eayc85t78UqRgVtH-Og,\n                https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/04\/march-gdp-may-2024.jpg?quality=90&strip=all&w=576&sig=_HGJP5fQH1dQk1C7CZ96rA 2x\" fifu-data-src=\"https:\/\/i2.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/04\/march-gdp-may-2024.jpg?quality=5&strip=all&w=100&sig=H2UtkZ07sa3nsquLijJNyg&ssl=1\" height=\"815\" loading=\"lazy\" width=\"1000\"\/><\/source><\/source><\/source><\/source><\/source><\/picture><figcaption class=\"image-caption\"><span class=\"caption\"> Financial Post<\/span><\/figcaption><\/figure>\n<p>\u201cWhile Q1 looks like it was decent overall, the loss of momentum as the quarter progressed is the bigger takeaway from this report,\u201d Benjamin Reitzes, managing director at BMO Capital Markets, said in a note on Tuesday.<\/p>\n<p>\u201cThat puts additional pressure on the Bank of Canada to begin cutting as soon as June (which is still dependent on the consumer price index in a few weeks). Unfortunately, persistently strong U.S. data is making things increasingly complicated for the bank, as it appears that the Fed could be on hold for a while.\u201d<\/p>\n<p>In April, the Bank of Canada announced its sixth consecutive hold on interest rates since the last increase in July 2023. But as the economy slows due to high interest rates, many economists expect the bank to announce its first cut in either June or July. The central bank\u2019s next meeting is on June 5.<\/p>\n<\/section>\n<div class=\"js-widget-content article-content__widget-group article-content__widget-group--content-slot19 article-content__widget-group--newsletter-slot\">\n<section class=\"newsletter-widget__new-story-page fp-headlinenews background--primary-light-gradient\" aria-labelledby=\"FinancialPostTopStories8098845061306687331001069408878592\" data-account-id=\"b9d3df2fccd108b5eff3c44f573b2cd6\" data-aqa=\"widget-newsletter\" data-newsletter=\"single\" data-newsletter-component=\"\" data-target-list=\"FP_HeadlineNews\" data-widget=\"newsletter\">\n<div class=\"newsletter-new-story-page-template\">\n<div class=\"newsletter-widget__header__new-story-page\">\n<div class=\"newsletter-widget__banner__new-story-page\"><img decoding=\"async\" src=\"data:image\/gif;base64,R0lGODlhAQABAIAAAAAAAP\/\/\/ywAAAAAAQABAAACAUwAOw==\" fifu-lazy=\"1\" fifu-data-sizes=\"auto\" fifu-data-srcset=\"https:\/\/dcs-static.gprod.postmedia.digital\/16.0.2\/websites\/images\/newsletters\/icon-fp-topStories.svg 75w, https:\/\/dcs-static.gprod.postmedia.digital\/16.0.2\/websites\/images\/newsletters\/icon-fp-topStories.svg 100w, https:\/\/dcs-static.gprod.postmedia.digital\/16.0.2\/websites\/images\/newsletters\/icon-fp-topStories.svg 150w, https:\/\/dcs-static.gprod.postmedia.digital\/16.0.2\/websites\/images\/newsletters\/icon-fp-topStories.svg 240w, https:\/\/dcs-static.gprod.postmedia.digital\/16.0.2\/websites\/images\/newsletters\/icon-fp-topStories.svg 320w, https:\/\/dcs-static.gprod.postmedia.digital\/16.0.2\/websites\/images\/newsletters\/icon-fp-topStories.svg 500w, https:\/\/dcs-static.gprod.postmedia.digital\/16.0.2\/websites\/images\/newsletters\/icon-fp-topStories.svg 640w, https:\/\/dcs-static.gprod.postmedia.digital\/16.0.2\/websites\/images\/newsletters\/icon-fp-topStories.svg 800w, https:\/\/dcs-static.gprod.postmedia.digital\/16.0.2\/websites\/images\/newsletters\/icon-fp-topStories.svg 1024w, https:\/\/dcs-static.gprod.postmedia.digital\/16.0.2\/websites\/images\/newsletters\/icon-fp-topStories.svg 1280w, https:\/\/dcs-static.gprod.postmedia.digital\/16.0.2\/websites\/images\/newsletters\/icon-fp-topStories.svg 1600w\" alt=\"Top Stories\" loading=\"lazy\" fifu-data-src=\"https:\/\/dcs-static.gprod.postmedia.digital\/16.0.2\/websites\/images\/newsletters\/icon-fp-topStories.svg\"\/><\/div>\n<div>\n<p>Top Stories<\/p>\n<p class=\"newsletter-widget__text__new-story-page\">Get the latest headlines, breaking news and columns.<\/p>\n<\/div>\n<\/div>\n<div class=\"newsletter-widget__body__new-story-page\">\n<div class=\"js-replace-main__new-story-page\">\n<p class=\"newsletter-widget__disclaimer__new-story-page text-size--tiny\">By signing up you consent to receive the above newsletter from Postmedia Network Inc.<\/p>\n<\/div>\n<div class=\"js-submit-success\" hidden=\"\" id=\"submitSuccessFP_HeadlineNews\">\n<p>Thanks for signing up!<\/p>\n<p class=\"newsletter-widget__text__new-story-page\">A welcome email is on its way. 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Please try again<\/p>\n<\/div>\n<\/div>\n<\/section>\n<\/div>\n<section class=\"article-content__content-group article-content__content-group--story\">\n<p>Article content<\/p>\n<\/section>\n<div class=\"ad__section-border article-content__ad-group ad_counter_3\">\n<section aria-describedby=\"advertisment1618983159595215176282756448518144\" class=\"ad\">\n<p>Advertisement 3<\/p>\n<div class=\"ad__container\">\n<div class=\"ad__inner\" id=\"ad__inner-3\">\n<div class=\"ad__inner__container\" data-ad=\"[[7,7],[1200,250],[1200,90],[970,90],[970,250],[728,90],[300,250]]\" data-ad-interscroller=\"7x7\" data-ad-loc=\"3\" data-ad-mobile=\"[[7,7],[300,250],[320,50],[300,50]]\" data-aqa=\"advertisement\" id=\"ad-3\" style=\"--desktopHeight:250px;--mobileHeight:250px\">\n<div aria-hidden=\"true\" class=\"ad__placeholder\">\n<p>This advertisement has not loaded yet, but your article continues below.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n<\/div>\n<section class=\"article-content__content-group article-content__content-group--story\">\n<p>Article content<\/p>\n<p>A 5.5 per cent increase in rail transportation in February after January\u2019s cold snap in Western Canada and a 4.8 per cent growth in air transportation, which was driven by increased flight capacity to Asia, contributed to the overall increase of 1.4 per cent in the transportation and warehousing segment that Statistics Canada measures.<\/p>\n<p>The resource extraction sector increased 2.5 per cent in February following a decline of 2.3 per cent in January, with oil and gas up 4.4 per cent, oilsands up 2.1 per cent and mining up 1.9 per cent.<\/p>\n<p>Gold and silver ore mining was up for the third month in a row, rising 4.4 per cent as multiple gold mines increased production, coinciding with an all-time high in exports of gold amid a record price for the metal.<\/p>\n<p>The manufacturing sector fell by 0.4 per cent in February due to declines in transportation equipment, with motor vehicle and parts manufacturing being the largest contributor, and chemical products.<\/p>\n<p data-async=\"\">\u201cToday\u2019s GDP report confirmed our expectations that the January surge in output was temporary,\u201d Royal Bank of Canada economist Claire Fan said in a note on Tuesday.<\/p>\n<\/section>\n<div class=\"ad__section-border article-content__ad-group ad_counter_4\">\n<section aria-describedby=\"advertisment671689425456554108125255202504704\" class=\"ad\">\n<p>Advertisement 4<\/p>\n<div class=\"ad__container\">\n<div class=\"ad__inner\" id=\"ad__inner-4\">\n<div class=\"ad__inner__container\" data-ad=\"[[1200,250],[1200,90],[970,90],[970,250],[728,90],[300,250]]\" data-ad-loc=\"4\" data-ad-mobile=\"[[320,50],[300,50],[300,250]]\" data-aqa=\"advertisement\" id=\"ad-4\" style=\"--desktopHeight:250px;--mobileHeight:250px\">\n<div aria-hidden=\"true\" class=\"ad__placeholder\">\n<p>This advertisement has not loaded yet, but your article continues below.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n<\/div>\n<section class=\"article-content__content-group article-content__content-group--story\">\n<p>Article content<\/p>\n<p>As a result of the new report and an increasingly soft labour market, she expects the Bank of Canada to make its first cut in June.<\/p>\n<section aria-labelledby=\"moreTopicLabel5224518586346785432167799156899840\" class=\"more-topic\" data-aqa=\"embed-more-topic\" data-carousel-component=\"\" data-carousel-icon-button=\"\" data-carousel-type=\"list\">\n<p>Recommended from Editorial<\/p>\n<p><button aria-hidden=\"true\" class=\"more-topic__button-prev\" data-carousel-prev=\"\" tabindex=\"-1\" title=\"previous\" type=\"button\"\/><\/p>\n<ol class=\"more-topic__items list-unstyled\" data-carousel-slide-list=\"\" tabindex=\"0\">\n<li data-evt-val=\"{\" control_fields=\"\" u.s.=\"\" inflation=\"\" signal=\"\" throws=\"\" bank=\"\" of=\"\" canada=\"\" a=\"\" curveball=\"\" data-carousel-item=\"\" data-evt=\"click\" data-evt-typ=\"click\"> <picture class=\"more-topic__item-image\"><img decoding=\"async\" src=\"data:image\/gif;base64,R0lGODlhAQABAIAAAAAAAP\/\/\/ywAAAAAAQABAAACAUwAOw==\" fifu-lazy=\"1\" fifu-data-sizes=\"auto\" fifu-data-srcset=\"https:\/\/i2.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/04\/no0426fed.jpg?h=96&strip=all&quality=5&sig=w9SX01h_L7q5iH4J1NwYyw&ssl=1&w=75&resize=75&ssl=1 75w, https:\/\/i2.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/04\/no0426fed.jpg?h=96&strip=all&quality=5&sig=w9SX01h_L7q5iH4J1NwYyw&ssl=1&w=100&resize=100&ssl=1 100w, https:\/\/i2.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/04\/no0426fed.jpg?h=96&strip=all&quality=5&sig=w9SX01h_L7q5iH4J1NwYyw&ssl=1&w=150&resize=150&ssl=1 150w, 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data-src=\"https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/04\/no0426fed.jpg?h=96&strip=all&quality=80&sig=60bRecS_aC7Y1mgaDUG2vQ\" fifu-data-src=\"https:\/\/i2.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/04\/no0426fed.jpg?h=96&strip=all&quality=5&sig=w9SX01h_L7q5iH4J1NwYyw&ssl=1\" srcset=\"https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/04\/no0426fed.jpg?h=96&strip=all&quality=80&sig=60bRecS_aC7Y1mgaDUG2vQ, https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/04\/no0426fed.jpg?h=192&strip=all&quality=80&sig=nWUBfr9PJQHl2FSXjl6hFg 2x,\n                                             https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/04\/no0426fed.jpg?h=288&strip=all&quality=80&sig=YiN8CiOxnumq6_lIxctRPg 3x\" class=\"lazyload\" height=\"96\" loading=\"lazy\" width=\"96\"\/><\/picture>\n<p><span class=\"more-topic__item-text-clamp\">Hot U.S. inflation signal throws Bank of Canada a curveball<\/span><\/p>\n<\/li>\n<li data-evt-val=\"{\" control_fields=\"\" dollar=\"\" could=\"\" sink=\"\" to=\"\" cents=\"\" in=\"\" a=\"\" decade:=\"\" analyst=\"\" data-carousel-item=\"\" data-evt=\"click\" data-evt-typ=\"click\"> <picture class=\"more-topic__item-image\"><img decoding=\"async\" src=\"data:image\/gif;base64,R0lGODlhAQABAIAAAAAAAP\/\/\/ywAAAAAAQABAAACAUwAOw==\" fifu-lazy=\"1\" fifu-data-sizes=\"auto\" fifu-data-srcset=\"https:\/\/i1.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/04\/canadian-dollar-gs0424.png?h=96&strip=all&quality=5&sig=7TqTK6VoE64EC19tFDFZLw&ssl=1&w=75&resize=75&ssl=1 75w, https:\/\/i1.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/04\/canadian-dollar-gs0424.png?h=96&strip=all&quality=5&sig=7TqTK6VoE64EC19tFDFZLw&ssl=1&w=100&resize=100&ssl=1 100w, https:\/\/i1.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/04\/canadian-dollar-gs0424.png?h=96&strip=all&quality=5&sig=7TqTK6VoE64EC19tFDFZLw&ssl=1&w=150&resize=150&ssl=1 150w, https:\/\/i1.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/04\/canadian-dollar-gs0424.png?h=96&strip=all&quality=5&sig=7TqTK6VoE64EC19tFDFZLw&ssl=1&w=240&resize=240&ssl=1 240w, https:\/\/i1.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/04\/canadian-dollar-gs0424.png?h=96&strip=all&quality=5&sig=7TqTK6VoE64EC19tFDFZLw&ssl=1&w=320&resize=320&ssl=1 320w, https:\/\/i1.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/04\/canadian-dollar-gs0424.png?h=96&strip=all&quality=5&sig=7TqTK6VoE64EC19tFDFZLw&ssl=1&w=500&resize=500&ssl=1 500w, https:\/\/i1.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/04\/canadian-dollar-gs0424.png?h=96&strip=all&quality=5&sig=7TqTK6VoE64EC19tFDFZLw&ssl=1&w=640&resize=640&ssl=1 640w, https:\/\/i1.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/04\/canadian-dollar-gs0424.png?h=96&strip=all&quality=5&sig=7TqTK6VoE64EC19tFDFZLw&ssl=1&w=800&resize=800&ssl=1 800w, https:\/\/i1.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/04\/canadian-dollar-gs0424.png?h=96&strip=all&quality=5&sig=7TqTK6VoE64EC19tFDFZLw&ssl=1&w=1024&resize=1024&ssl=1 1024w, https:\/\/i1.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/04\/canadian-dollar-gs0424.png?h=96&strip=all&quality=5&sig=7TqTK6VoE64EC19tFDFZLw&ssl=1&w=1280&resize=1280&ssl=1 1280w, https:\/\/i1.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/04\/canadian-dollar-gs0424.png?h=96&strip=all&quality=5&sig=7TqTK6VoE64EC19tFDFZLw&ssl=1&w=1600&resize=1600&ssl=1 1600w\" alt=\"The Canadian dollar, considered a commodity currency, has not kept pace with the recent increase in oil prices.\" data-src=\"https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/04\/canadian-dollar-gs0424.png?h=96&strip=all&quality=80&sig=-eiJP3HaLcjTj858jRP6YQ\" fifu-data-src=\"https:\/\/i1.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/04\/canadian-dollar-gs0424.png?h=96&strip=all&quality=5&sig=7TqTK6VoE64EC19tFDFZLw&ssl=1\" srcset=\"https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/04\/canadian-dollar-gs0424.png?h=96&strip=all&quality=80&sig=-eiJP3HaLcjTj858jRP6YQ, https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/04\/canadian-dollar-gs0424.png?h=192&strip=all&quality=80&sig=zQ6E3LdZECioxOHeuiioQA 2x,\n                                             https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/04\/canadian-dollar-gs0424.png?h=288&strip=all&quality=80&sig=80zf8MWz8wIJJBDq2BO0Ew 3x\" class=\"lazyload\" height=\"96\" loading=\"lazy\" width=\"96\"\/><\/picture>\n<p><span class=\"more-topic__item-text-clamp\">Canadian dollar could sink to 50 cents in a decade: analyst<\/span><\/p>\n<\/li>\n<\/ol>\n<p><button aria-hidden=\"true\" class=\"more-topic__button-next\" data-carousel-next=\"\" tabindex=\"-1\" title=\"next\" type=\"button\"\/><\/section>\n<p>CIBC Capital Markets economist Andrew Grantham said that if inflation doesn\u2019t heat up again in April, the bank should start reducing interest rates in June.<\/p>\n<p>\u201cMomentum in the Canadian economy seems to have faded quickly,\u201d he said.<\/p>\n<p data-async=\"\"><em>\u2022 Email: nkarim@postmedia.com<\/em><\/p>\n<p data-async=\"\"><em><strong>Bookmark our website and support our journalism:<\/strong> Don\u2019t miss the business news you need to know \u2014 add financialpost.com to your bookmarks and sign up for our newsletters here.<\/em><\/p>\n<\/section>\n<section class=\"article-content__content-group article-content__content-group--story\">\n<p>Article content<\/p>\n<\/section>\n<section class=\"article-content__share-group article-delimiter\" data-evt-val=\"{\" control_fields=\"\" data-evt-typ=\"page_scroll\">\n<p>Share this article in your social network<\/p>\n<\/section>\n<\/div>\n\n<br \/>Canada&#8217;s economy is losing momentum<\/a><br \/>\n<br \/>2024-04-30 13:13:23<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Breadcrumb Trail Links News Economy Slowing GDP puts pressure on Bank of Canada to cut rate in June Get the latest from Naimul Karim straight to your inbox Sign Up&#8230;<\/p>\n","protected":false},"author":2,"featured_media":46523,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/04\/canada-gdp-0430-ph.jpg?quality=90&strip=all&w=288&h=216&sig=9JuhySHwpX8LFjwd-9dbiw","fifu_image_alt":"","footnotes":""},"categories":[31],"tags":[],"class_list":["post-46522","post","type-post","status-publish","format-standard","has-post-thumbnail","category-economy"],"_links":{"self":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts\/46522","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/comments?post=46522"}],"version-history":[{"count":0,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts\/46522\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/media\/46523"}],"wp:attachment":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/media?parent=46522"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/categories?post=46522"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/tags?post=46522"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}