# Canada's growth stronger than expected, bank still seen cutting rates | Reuters

> The Canadian dollar edged up 0.1% to C$1.3467 per U.S. dollar as Canada's economy grew faster than expected in the second quarter. The Bank of Canada is still expected to cut rates, with mortgage renewals adding pressure.

- Date: 2024-08-30 · published 2024-08-30T12:00:00.000Z
- Category: macro · region Canada · magnitude low
- Page: https://feedsoft.ai/events/29029-canada-s-growth-stronger-than-expected-bank-still-seen-cutting-rates-reuters
- Commodities: [Canadian Dollar (CAD per USD)](https://feedsoft.ai/c/USDCAD.md)

## Why it matters

A weaker Canadian dollar and rate cuts support Canadian exports and currency-linked commodity flows, but this is a currency and macro story with little direct effect on feed grain prices.

## Read by commodity

- USDCAD: neutral

## Sources

- reuters.com: https://www.reuters.com/world/americas/canadas-economy-grows-by-21-annualized-second-quarter-beats-forecast-2024-08-30/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.