{"id":51053,"date":"2024-09-27T18:12:34","date_gmt":"2024-09-27T18:12:34","guid":{"rendered":"https:\/\/www.pantheregroup.com\/2024\/09\/27\/canadian-economic-soft-landing-possible-without-jumbo-rate-cuts\/"},"modified":"2024-09-27T18:12:34","modified_gmt":"2024-09-27T18:12:34","slug":"canadian-economic-soft-landing-possible-without-jumbo-rate-cuts","status":"publish","type":"post","link":"https:\/\/www.pantheregroup.com\/2024\/09\/27\/canadian-economic-soft-landing-possible-without-jumbo-rate-cuts\/","title":{"rendered":"Canadian economic soft landing possible without jumbo rate cuts"},"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\">Governor Tiff Macklem could stick to a gradual pace of monetary easing<\/p>\n<div class=\"article-meta\">\n<div class=\"wire-published-by\">\n<p class=\"visually-hidden\">Author of the article:<\/p>\n<p><\/p>\n<div class=\"wire-published-by__author-container\">\n<p>Bloomberg News<\/p>\n<p>Erik Hertzberg and Dana Morgan<\/p>\n<\/div>\n<\/div>\n<p><span class=\"published-date__since\">Published Sep 27, 2024<\/span> \u00a0\u2022\u00a0 <span class=\"updated-date__since\">Last updated 2\u00a0days ago<\/span> \u00a0\u2022\u00a0 <span class=\"published-date__word-count\">2 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=\"f7295048-a606-4180-8a81-df75bb8b21cf\" 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\"><img loading=\"lazy\" decoding=\"async\" src=\"data:image\/gif;base64,R0lGODlhAQABAIAAAAAAAP\/\/\/ywAAAAAAQABAAACAUwAOw==\" fifu-lazy=\"1\" fifu-data-sizes=\"auto\" fifu-data-srcset=\"https:\/\/i3.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/09\/Canada-economy-gs0927.png?quality=90&strip=all&w=288&h=216&sig=TaxqGf9ruGsDYPStpkT4mw&ssl=1&w=75&resize=75&ssl=1 75w, https:\/\/i3.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/09\/Canada-economy-gs0927.png?quality=90&strip=all&w=288&h=216&sig=TaxqGf9ruGsDYPStpkT4mw&ssl=1&w=100&resize=100&ssl=1 100w, https:\/\/i3.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/09\/Canada-economy-gs0927.png?quality=90&strip=all&w=288&h=216&sig=TaxqGf9ruGsDYPStpkT4mw&ssl=1&w=150&resize=150&ssl=1 150w, https:\/\/i3.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/09\/Canada-economy-gs0927.png?quality=90&strip=all&w=288&h=216&sig=TaxqGf9ruGsDYPStpkT4mw&ssl=1&w=240&resize=240&ssl=1 240w, https:\/\/i3.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/09\/Canada-economy-gs0927.png?quality=90&strip=all&w=288&h=216&sig=TaxqGf9ruGsDYPStpkT4mw&ssl=1&w=320&resize=320&ssl=1 320w, https:\/\/i3.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/09\/Canada-economy-gs0927.png?quality=90&strip=all&w=288&h=216&sig=TaxqGf9ruGsDYPStpkT4mw&ssl=1&w=500&resize=500&ssl=1 500w, https:\/\/i3.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/09\/Canada-economy-gs0927.png?quality=90&strip=all&w=288&h=216&sig=TaxqGf9ruGsDYPStpkT4mw&ssl=1&w=640&resize=640&ssl=1 640w, https:\/\/i3.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/09\/Canada-economy-gs0927.png?quality=90&strip=all&w=288&h=216&sig=TaxqGf9ruGsDYPStpkT4mw&ssl=1&w=800&resize=800&ssl=1 800w, https:\/\/i3.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/09\/Canada-economy-gs0927.png?quality=90&strip=all&w=288&h=216&sig=TaxqGf9ruGsDYPStpkT4mw&ssl=1&w=1024&resize=1024&ssl=1 1024w, https:\/\/i3.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/09\/Canada-economy-gs0927.png?quality=90&strip=all&w=288&h=216&sig=TaxqGf9ruGsDYPStpkT4mw&ssl=1&w=1280&resize=1280&ssl=1 1280w, https:\/\/i3.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/09\/Canada-economy-gs0927.png?quality=90&strip=all&w=288&h=216&sig=TaxqGf9ruGsDYPStpkT4mw&ssl=1&w=1600&resize=1600&ssl=1 1600w\" alt=\"Canadian economic growth\" class=\"featured-image__image type:primaryImage\" fifu-data-src=\"https:\/\/i3.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/09\/Canada-economy-gs0927.png?quality=90&strip=all&w=288&h=216&sig=TaxqGf9ruGsDYPStpkT4mw&ssl=1\" srcset=\"https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/09\/Canada-economy-gs0927.png?quality=90&strip=all&w=288&h=216&sig=TaxqGf9ruGsDYPStpkT4mw,\n                    https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/09\/Canada-economy-gs0927.png?quality=90&strip=all&w=576&h=432&sig=pKh68Xr4IlhoZvPcAm_SZA 2x\" height=\"750\" width=\"1000\"\/><\/source><\/source><\/source><\/source><\/source><\/picture><figcaption class=\"featured-image__caption image-caption\"><span class=\"caption\">Economists think Canada can stick a soft landing without the aid of oversized interest rate cuts.<\/span> <span class=\"credit\">Photo by Getty Images<\/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 Bank of Canada will be able to pull off a soft landing for the country\u2019s economy without resorting to half-point interest rate cuts, analysts say.<\/p>\n<p>The central bank will keep gradually lowering borrowing costs at quarter percentage-point increments over the next five decisions, according to the median estimates of economists surveyed by Bloomberg. They see the benchmark overnight rate falling from the current 4.25 per cent down to three per cent by April 2025, lower than forecast in the previous survey.<\/p>\n<\/section>\n<div class=\"ad__section-border article-content__ad-group ad_counter_2\">\n<section aria-describedby=\"advertisment8781565553962728536227265338408960\" class=\"ad\">\n<p>Advertisement 2<\/p>\n<div class=\"ad__container\">\n<div class=\"ad__inner\" id=\"ad__inner-2\">\n<div class=\"ad__inner__container\" data-ad=\"[[6,6],[1200,250],[1200,90],[970,90],[970,250],[728,90],[300,250]]\" data-ad-interscroller=\"6x6\" data-ad-loc=\"2\" data-ad-mobile=\"[[6,6],[320,50],[300,50],[300,250],[300,600]]\" data-aqa=\"advertisement\" id=\"ad-2\" style=\"--desktopHeight:250px;--mobileHeight:600px\">\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<div class=\"article-block 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class=\"article-content__content-group article-content__content-group--story\">\n<p>Article content<\/p>\n<p data-async=\"\">At the same time, the survey projects economic growth will average a two per cent annualized clip in the last three quarters of 2025, a boon for the central bank as it aims to prevent a sharp economic downturn after one of the most aggressive hiking cycles in its history. The survey of 28 economists was conducted between Sept. 20 and Sept. 25.<\/p>\n<p data-async=\"\">The results suggest economists think governor Tiff Macklem can stick to a gradual pace of monetary easing and still keep the economy out of recession. They also signal confidence that the bank\u2019s tightening campaign has successfully tamed inflation, with the survey projecting price gains will sustainably reach the two per cent inflation target starting in the second quarter of 2025. That\u2019s earlier than expected in previous surveys and by policymakers in their July Monetary Policy Report. The rate is seen stabilizing at that level until early 2026.<\/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:\/\/i1.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/09\/July-2024-GDP-1.png?quality=5&strip=all&w=100&sig=aiYJ_jsS7pZ7u0gprZhdGQ&ssl=1&w=75&resize=75&ssl=1 75w, https:\/\/i1.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/09\/July-2024-GDP-1.png?quality=5&strip=all&w=100&sig=aiYJ_jsS7pZ7u0gprZhdGQ&ssl=1&w=100&resize=100&ssl=1 100w, https:\/\/i1.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/09\/July-2024-GDP-1.png?quality=5&strip=all&w=100&sig=aiYJ_jsS7pZ7u0gprZhdGQ&ssl=1&w=150&resize=150&ssl=1 150w, https:\/\/i1.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/09\/July-2024-GDP-1.png?quality=5&strip=all&w=100&sig=aiYJ_jsS7pZ7u0gprZhdGQ&ssl=1&w=240&resize=240&ssl=1 240w, https:\/\/i1.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/09\/July-2024-GDP-1.png?quality=5&strip=all&w=100&sig=aiYJ_jsS7pZ7u0gprZhdGQ&ssl=1&w=320&resize=320&ssl=1 320w, https:\/\/i1.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/09\/July-2024-GDP-1.png?quality=5&strip=all&w=100&sig=aiYJ_jsS7pZ7u0gprZhdGQ&ssl=1&w=500&resize=500&ssl=1 500w, https:\/\/i1.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/09\/July-2024-GDP-1.png?quality=5&strip=all&w=100&sig=aiYJ_jsS7pZ7u0gprZhdGQ&ssl=1&w=640&resize=640&ssl=1 640w, https:\/\/i1.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/09\/July-2024-GDP-1.png?quality=5&strip=all&w=100&sig=aiYJ_jsS7pZ7u0gprZhdGQ&ssl=1&w=800&resize=800&ssl=1 800w, https:\/\/i1.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/09\/July-2024-GDP-1.png?quality=5&strip=all&w=100&sig=aiYJ_jsS7pZ7u0gprZhdGQ&ssl=1&w=1024&resize=1024&ssl=1 1024w, https:\/\/i1.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/09\/July-2024-GDP-1.png?quality=5&strip=all&w=100&sig=aiYJ_jsS7pZ7u0gprZhdGQ&ssl=1&w=1280&resize=1280&ssl=1 1280w, https:\/\/i1.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/09\/July-2024-GDP-1.png?quality=5&strip=all&w=100&sig=aiYJ_jsS7pZ7u0gprZhdGQ&ssl=1&w=1600&resize=1600&ssl=1 1600w\" alt=\"July 2024 GDP chart\" class=\"embedded-image__image lazyload\" data-src=\"https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/09\/July-2024-GDP-1.png?quality=90&strip=all&w=288&sig=v4Q2T1gfAnnhUIrXdIRNLA\" data-srcset=\"https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/09\/July-2024-GDP-1.png?quality=90&strip=all&w=288&sig=v4Q2T1gfAnnhUIrXdIRNLA,\n                https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/09\/July-2024-GDP-1.png?quality=90&strip=all&w=576&sig=031TYZOSwYaiB3uLG3a55w 2x\" fifu-data-src=\"https:\/\/i1.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/09\/July-2024-GDP-1.png?quality=5&strip=all&w=100&sig=aiYJ_jsS7pZ7u0gprZhdGQ&ssl=1\" height=\"796\" loading=\"lazy\" width=\"1000\"\/><\/source><\/source><\/source><\/source><\/source><\/picture><\/figure>\n<p data-async=\"\">But Canada\u2019s economy is increasingly showing signs of weakness. Consumption growth has slowed, despite population growth that\u2019s among the fastest in the world. The jobless rate hit 6.6 per cent in August, up 1.6 percentage points since the start of 2023, with youth and newcomer unemployment rates much higher.<\/p>\n<\/section>\n<div class=\"ad__section-border article-content__ad-group ad_counter_3\">\n<section aria-describedby=\"advertisment357927856668802663386024163409920\" 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>In the survey, economists also boosted their forecasts for peak unemployment in the country, which is now expected to hit 6.8 per cent at the end of this year and the beginning of the next.<\/p>\n<p data-async=\"\">On Friday, Statistics Canada released data showing economic growth tracking around one per cent in the third quarter of 2024, below the forecasts of economists and the bank. Policymakers have said they wanted the economy to grow faster to prevent an undershoot of the inflation target. Earlier this week, Macklem said he wanted growth to pick up above two per cent.<\/p>\n<section aria-labelledby=\"moreTopicLabel3371821111451967995790117130207232\" 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=\"\" grew=\"\" by=\"\" in=\"\" july=\"\" falling=\"\" behind=\"\" bank=\"\" of=\"\" canada=\"\" forecast=\"\" 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\/09\/ottawa-bureaucracy-gs0927.png?h=96&strip=all&quality=5&sig=OLSAOqPntQFMa4DNglqoFQ&ssl=1&w=75&resize=75&ssl=1 75w, https:\/\/i2.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/09\/ottawa-bureaucracy-gs0927.png?h=96&strip=all&quality=5&sig=OLSAOqPntQFMa4DNglqoFQ&ssl=1&w=100&resize=100&ssl=1 100w, https:\/\/i2.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/09\/ottawa-bureaucracy-gs0927.png?h=96&strip=all&quality=5&sig=OLSAOqPntQFMa4DNglqoFQ&ssl=1&w=150&resize=150&ssl=1 150w, https:\/\/i2.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/09\/ottawa-bureaucracy-gs0927.png?h=96&strip=all&quality=5&sig=OLSAOqPntQFMa4DNglqoFQ&ssl=1&w=240&resize=240&ssl=1 240w, https:\/\/i2.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/09\/ottawa-bureaucracy-gs0927.png?h=96&strip=all&quality=5&sig=OLSAOqPntQFMa4DNglqoFQ&ssl=1&w=320&resize=320&ssl=1 320w, https:\/\/i2.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/09\/ottawa-bureaucracy-gs0927.png?h=96&strip=all&quality=5&sig=OLSAOqPntQFMa4DNglqoFQ&ssl=1&w=500&resize=500&ssl=1 500w, https:\/\/i2.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/09\/ottawa-bureaucracy-gs0927.png?h=96&strip=all&quality=5&sig=OLSAOqPntQFMa4DNglqoFQ&ssl=1&w=640&resize=640&ssl=1 640w, https:\/\/i2.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/09\/ottawa-bureaucracy-gs0927.png?h=96&strip=all&quality=5&sig=OLSAOqPntQFMa4DNglqoFQ&ssl=1&w=800&resize=800&ssl=1 800w, https:\/\/i2.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/09\/ottawa-bureaucracy-gs0927.png?h=96&strip=all&quality=5&sig=OLSAOqPntQFMa4DNglqoFQ&ssl=1&w=1024&resize=1024&ssl=1 1024w, https:\/\/i2.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/09\/ottawa-bureaucracy-gs0927.png?h=96&strip=all&quality=5&sig=OLSAOqPntQFMa4DNglqoFQ&ssl=1&w=1280&resize=1280&ssl=1 1280w, https:\/\/i2.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/09\/ottawa-bureaucracy-gs0927.png?h=96&strip=all&quality=5&sig=OLSAOqPntQFMa4DNglqoFQ&ssl=1&w=1600&resize=1600&ssl=1 1600w\" alt=\"The services-producing sector grew by 0.2 per cent in July, driven by the retail services, finance and public sector industries.\" data-src=\"https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/09\/ottawa-bureaucracy-gs0927.png?h=96&strip=all&quality=80&sig=ZGmfyuxwqTlP2IS3wRNoWg\" fifu-data-src=\"https:\/\/i2.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/09\/ottawa-bureaucracy-gs0927.png?h=96&strip=all&quality=5&sig=OLSAOqPntQFMa4DNglqoFQ&ssl=1\" srcset=\"https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/09\/ottawa-bureaucracy-gs0927.png?h=96&strip=all&quality=80&sig=ZGmfyuxwqTlP2IS3wRNoWg, https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/09\/ottawa-bureaucracy-gs0927.png?h=192&strip=all&quality=80&sig=DR9N3eTqb8545mjFDd4srg 2x,\n                                             https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/09\/ottawa-bureaucracy-gs0927.png?h=288&strip=all&quality=80&sig=alrrQESd5fXwaKlmFP3ffw 3x\" class=\"lazyload\" height=\"96\" loading=\"lazy\" width=\"96\"\/><\/picture>\n<p><span class=\"more-topic__item-text-clamp\">Economy grew by 0.2% in July, falling behind Bank of Canada&#8217;s forecast<\/span><\/p>\n<\/li>\n<li data-evt-val=\"{\" control_fields=\"\" of=\"\" active=\"\" businesses=\"\" fell=\"\" by=\"\" most=\"\" since=\"\" the=\"\" pandemic=\"\" 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\/09\/COVID-Economy-gs0927.png?h=96&strip=all&quality=5&sig=Fxhrjiu6CTWwyIbjoX6Xbw&ssl=1&w=75&resize=75&ssl=1 75w, https:\/\/i2.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/09\/COVID-Economy-gs0927.png?h=96&strip=all&quality=5&sig=Fxhrjiu6CTWwyIbjoX6Xbw&ssl=1&w=100&resize=100&ssl=1 100w, https:\/\/i2.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/09\/COVID-Economy-gs0927.png?h=96&strip=all&quality=5&sig=Fxhrjiu6CTWwyIbjoX6Xbw&ssl=1&w=150&resize=150&ssl=1 150w, https:\/\/i2.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/09\/COVID-Economy-gs0927.png?h=96&strip=all&quality=5&sig=Fxhrjiu6CTWwyIbjoX6Xbw&ssl=1&w=240&resize=240&ssl=1 240w, https:\/\/i2.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/09\/COVID-Economy-gs0927.png?h=96&strip=all&quality=5&sig=Fxhrjiu6CTWwyIbjoX6Xbw&ssl=1&w=320&resize=320&ssl=1 320w, https:\/\/i2.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/09\/COVID-Economy-gs0927.png?h=96&strip=all&quality=5&sig=Fxhrjiu6CTWwyIbjoX6Xbw&ssl=1&w=500&resize=500&ssl=1 500w, https:\/\/i2.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/09\/COVID-Economy-gs0927.png?h=96&strip=all&quality=5&sig=Fxhrjiu6CTWwyIbjoX6Xbw&ssl=1&w=640&resize=640&ssl=1 640w, https:\/\/i2.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/09\/COVID-Economy-gs0927.png?h=96&strip=all&quality=5&sig=Fxhrjiu6CTWwyIbjoX6Xbw&ssl=1&w=800&resize=800&ssl=1 800w, https:\/\/i2.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/09\/COVID-Economy-gs0927.png?h=96&strip=all&quality=5&sig=Fxhrjiu6CTWwyIbjoX6Xbw&ssl=1&w=1024&resize=1024&ssl=1 1024w, https:\/\/i2.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/09\/COVID-Economy-gs0927.png?h=96&strip=all&quality=5&sig=Fxhrjiu6CTWwyIbjoX6Xbw&ssl=1&w=1280&resize=1280&ssl=1 1280w, https:\/\/i2.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/09\/COVID-Economy-gs0927.png?h=96&strip=all&quality=5&sig=Fxhrjiu6CTWwyIbjoX6Xbw&ssl=1&w=1600&resize=1600&ssl=1 1600w\" alt=\"A closed Toronto business pleads for further financial assistance at the height of the pandemic in 2020. About five per cent of firms closed their doors in June, the highest closure rate since the same month in 2020.\" data-src=\"https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/09\/COVID-Economy-gs0927.png?h=96&strip=all&quality=80&sig=Bwn0l9kBFQaW37S9ER327w\" fifu-data-src=\"https:\/\/i2.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/09\/COVID-Economy-gs0927.png?h=96&strip=all&quality=5&sig=Fxhrjiu6CTWwyIbjoX6Xbw&ssl=1\" srcset=\"https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/09\/COVID-Economy-gs0927.png?h=96&strip=all&quality=80&sig=Bwn0l9kBFQaW37S9ER327w, https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/09\/COVID-Economy-gs0927.png?h=192&strip=all&quality=80&sig=Z8wNQgMWpxkoCXV2U6TRwQ 2x,\n                                             https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/09\/COVID-Economy-gs0927.png?h=288&strip=all&quality=80&sig=HdvAFdRZMK0J_YFcg8GP9g 3x\" class=\"lazyload\" height=\"96\" loading=\"lazy\" width=\"96\"\/><\/picture>\n<p><span class=\"more-topic__item-text-clamp\">Number of active businesses fell by most since the pandemic<\/span><\/p>\n<\/li>\n<li data-evt-val=\"{\" control_fields=\"\" says=\"\" need=\"\" to=\"\" stick=\"\" the=\"\" landing=\"\" as=\"\" inflation=\"\" falls=\"\" target=\"\" 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\/09\/0925-bc-tiff.jpg?h=96&strip=all&quality=5&sig=qGFLc0QHxwiuRvDDSL5Taw&ssl=1&w=75&resize=75&ssl=1 75w, https:\/\/i1.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/09\/0925-bc-tiff.jpg?h=96&strip=all&quality=5&sig=qGFLc0QHxwiuRvDDSL5Taw&ssl=1&w=100&resize=100&ssl=1 100w, https:\/\/i1.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/09\/0925-bc-tiff.jpg?h=96&strip=all&quality=5&sig=qGFLc0QHxwiuRvDDSL5Taw&ssl=1&w=150&resize=150&ssl=1 150w, https:\/\/i1.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/09\/0925-bc-tiff.jpg?h=96&strip=all&quality=5&sig=qGFLc0QHxwiuRvDDSL5Taw&ssl=1&w=240&resize=240&ssl=1 240w, https:\/\/i1.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/09\/0925-bc-tiff.jpg?h=96&strip=all&quality=5&sig=qGFLc0QHxwiuRvDDSL5Taw&ssl=1&w=320&resize=320&ssl=1 320w, https:\/\/i1.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/09\/0925-bc-tiff.jpg?h=96&strip=all&quality=5&sig=qGFLc0QHxwiuRvDDSL5Taw&ssl=1&w=500&resize=500&ssl=1 500w, https:\/\/i1.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/09\/0925-bc-tiff.jpg?h=96&strip=all&quality=5&sig=qGFLc0QHxwiuRvDDSL5Taw&ssl=1&w=640&resize=640&ssl=1 640w, https:\/\/i1.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/09\/0925-bc-tiff.jpg?h=96&strip=all&quality=5&sig=qGFLc0QHxwiuRvDDSL5Taw&ssl=1&w=800&resize=800&ssl=1 800w, https:\/\/i1.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/09\/0925-bc-tiff.jpg?h=96&strip=all&quality=5&sig=qGFLc0QHxwiuRvDDSL5Taw&ssl=1&w=1024&resize=1024&ssl=1 1024w, https:\/\/i1.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/09\/0925-bc-tiff.jpg?h=96&strip=all&quality=5&sig=qGFLc0QHxwiuRvDDSL5Taw&ssl=1&w=1280&resize=1280&ssl=1 1280w, https:\/\/i1.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/09\/0925-bc-tiff.jpg?h=96&strip=all&quality=5&sig=qGFLc0QHxwiuRvDDSL5Taw&ssl=1&w=1600&resize=1600&ssl=1 1600w\" alt=\"Bank of Canada governor Tiff Macklem being interviewed by the National Post in Ottawa. \" data-src=\"https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/09\/0925-bc-tiff.jpg?h=96&strip=all&quality=80&sig=tX_AGbLGeTMtprg6LFBvNg\" fifu-data-src=\"https:\/\/i1.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/09\/0925-bc-tiff.jpg?h=96&strip=all&quality=5&sig=qGFLc0QHxwiuRvDDSL5Taw&ssl=1\" srcset=\"https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/09\/0925-bc-tiff.jpg?h=96&strip=all&quality=80&sig=tX_AGbLGeTMtprg6LFBvNg, https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/09\/0925-bc-tiff.jpg?h=192&strip=all&quality=80&sig=wdn-YU2G0pffJvbqs3AHBA 2x,\n                                             https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/09\/0925-bc-tiff.jpg?h=288&strip=all&quality=80&sig=62HhxgU4MOmsrfHXCN_fuQ 3x\" class=\"lazyload\" height=\"96\" loading=\"lazy\" width=\"96\"\/><\/picture>\n<p><span class=\"more-topic__item-text-clamp\">Macklem says \u2018we need to stick the landing\u2019 as inflation falls to 2% target<\/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>Markets are less sanguine about the outlook, and traders in overnight swaps put the odds of a 50 basis-point cut at the central bank\u2019s next meeting at just over a coinflip. They\u2019re also betting on the policy rate falling to 2.5 per cent by the end of 2025, a quarter point lower than the 2.75 per cent expected by economists.<\/p>\n<p data-async=\"\">Bloomberg.com<\/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 \/>Canadian economic soft landing possible without jumbo rate cuts<\/a><br \/>\n<br \/>2024-09-27 18:12:34<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Breadcrumb Trail Links News Economy Governor Tiff Macklem could stick to a gradual pace of monetary easing Author of the article: Bloomberg News Erik Hertzberg and Dana Morgan Published Sep&#8230;<\/p>\n","protected":false},"author":2,"featured_media":51054,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/secure.gravatar.com\/avatar\/2c61c569c35df1bfebdf8601ae03b90f?s=70&d=mp","fifu_image_alt":"","footnotes":""},"categories":[31],"tags":[],"class_list":["post-51053","post","type-post","status-publish","format-standard","has-post-thumbnail","category-economy"],"_links":{"self":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts\/51053","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=51053"}],"version-history":[{"count":0,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts\/51053\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/media\/51054"}],"wp:attachment":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/media?parent=51053"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/categories?post=51053"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/tags?post=51053"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}