Canada’s economy grows better than expected in Q2

Canada’s economy grew more than expected in the second quarter, but figures showed a decline in per capita GDP and a decline in household consumption.

The latest economic data could guide the Bank of Canada to stay on track to cut interest rates for a third straight meeting next week.

The country’s GDP grew by 2.1% year-on-year in the second quarter, beating the median estimate of 1.8%, according to Al Arabiya

The Bank of Canada cut its interest rate by 25 basis points at its June and July meetings, bringing it to 4.5%. Economists and markets widely expect the bank to make another record cut on September 4.