Canada's economy is expanding at its fastest annualized rate in six years, Statistics Canada reported Thursday. That's an annualized rate of expansion of 4.5 per cent, the highest the figure has been since the third quarter of 2011. The Canadian dollar rose on the news, gaining more than a quarter of a cent to 79.60 cents US. DePratto said the strong quarterly showing likely means another Bank of Canada rate hike is now a "done deal" some time between now and the end of the year. "This suite of robust numbers all but locks in another rate hike this year — and we suspect that is the message they will send quite clearly at next week's decision."

Source: CBC News August 31, 2017 13:01 UTC