Canada’s GDP has declined about 9% in march

Le PIB du Canada a reculé d’environ 9% en mars

Photo: Justin Tang, The canadian Press

The rapid estimates of GDP indicate that the canadian economy has declined about 9 % in march, according to a new report Wednesday, Statistics Canada.

This preliminary estimate of the agency brand to the monthly decrease is the most marked of GDP since it began collecting data in 1961.

This data is published while the Bank of Canada prepares to make an announcement regarding its interest rate later in the morning.

To see the video

The central bank has cut its interest rates since the beginning of march, including two cuts not provided for as an emergency measure in the wake of the economic impacts of the pandemic.

Economists generally expect the Bank of Canada keeps its key rate at 0.25 %.

The central bank will unveil at the same time its estimates of the economic impacts of the COVID-19 and its perspectives on the economy of the country, a day after the international monetary Fund had predicted a contraction of the canadian economy by 6.2 % this year.

Share Button

Add a Comment

Your email address will not be published. Required fields are marked *