# Canada's economic growth misses estimates, boosting chances of rate cut

> Canada's economic growth data for February and a preliminary March estimate came in below forecasts, with GDP rising 0.2% against expectations of 0.3%. The Canadian dollar weakened slightly to C$1.3730 per U.S. dollar and the two-year bond yield rose.

- Date: 2024-04-30 · published 2024-04-30T12:00:00.000Z
- Category: macro · region Canada · magnitude low
- Page: https://feedsoft.ai/events/30968-canada-s-economic-growth-misses-estimates-boosting-chances-of-rate-cut
- Commodities: [Canadian Dollar (CAD per USD)](https://feedsoft.ai/c/USDCAD.md)

## Why it matters

Slower Canadian growth raises the odds the Bank of Canada cuts rates before the Fed, widening the rate gap and pressuring the loonie. A weaker Canadian dollar makes US-priced imports costlier for Canadian feed buyers, though the direct grain price effect is small.

## Read by commodity

- USDCAD: bullish ▲

## Sources

- reuters.com: https://www.reuters.com/world/americas/canadas-economy-misses-feb-growth-forecasts-q1-gdp-seen-up-25-2024-04-30/

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