# Canada's Q4 growth tops forecasts, reducing pressure for immediate rate cut

> Canada's fourth-quarter GDP growth beat forecasts, which reduced pressure for an immediate Bank of Canada rate cut. The loonie recovered earlier losses to trade 0.1% higher at 1.3565 per U.S. dollar, and two-year Canadian yields edged up.

- Date: 2024-02-29 · published 2024-02-29T12:00:00.000Z
- Category: macro · region Canada · magnitude low
- Page: https://feedsoft.ai/events/31911-canada-s-q4-growth-tops-forecasts-reducing-pressure-for-immediate-rate-cut
- Commodities: [Canadian Dollar (CAD per USD)](https://feedsoft.ai/c/USDCAD.md)

## Why it matters

A firmer Canadian economy and less urgency for rate cuts support the Canadian dollar, which lowers USD/CAD. This is a currency move with little direct effect on feed grain or oilseed prices.

## Read by commodity

- USDCAD: bearish ▼

## Sources

- reuters.com: https://www.reuters.com/world/americas/canadas-economy-tops-q4-growth-forecasts-another-rise-seen-jan-2024-02-29/

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