Canada GDP shows unexpected strength, set to boost rate hike chances

This article from Yahoo Finance Canada, talks about potential interest rate hikes.  I have seen the bond rate start to raise over the last couple of days.  This will typically lead to banks moving interest rates up soon.  Every year, I also notice an end of year raising of rates by the banks.

If you, or someone you know, plans to purchase in the next 90 to 120 days, give me a call to secure an interest rate.  There is not extra fee and you can at least know you have hedged your bets for the future...

Here is the article Intro...

OTTAWA (Reuters) - Canada's economy grew by a greater than expected 0.2 percent in July, Statistics Canada data indicated on Friday, a development set to cement market expectations of another interest rate increase next month.

Analysts in a Reuters poll had forecast 0.1 percent growth from June. Twelve of the 20 sectors gained, led by manufacturing, wholesale trade and utilities.

The Bank of Canada, which this month forecast temporary factors would weigh on third-quarter GDP, on Thursday pledged to raise rates gradually and keep a close watch on economic data. The next fixed interest rate decision is on Oct 24.

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