Economists are backing the finance minister Joe Oliver’s view that Canada’s economy is growing again. A poll from Reuters revealed that a broad selection of experts say that GDP will grow by 1.7 per cent in the third quarter followed by 2.2 per cent growth in the fourth. Although the first half of the year will drag the annual figure down to around 1.3 per cent they are suggesting that there will be no justification for a further cut in interest rates from the current 0.5 per cent. There are of course still some unknowns including the timing and depth of interest rate increases by the Fed and volatility still abounds in the oil price.
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