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Economic optimism riding high, but Bank of Canada biding time on rates Add to ...

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Canadians may be in for a pleasant surprise when Canada’s fourth-quarter gross domestic product report comes out this week. But the data will come one day too late to colour the Bank of Canada’s interest-rate decision.

Statistics Canada will release GDP figures for December and for the fourth quarter on Thursday morning. Optimism about the likely numbers is riding high, thanks to a generally strong string of key indicators leading up to the GDP report. The consensus among economists is that real GDP grew at an annualized rate of close to 2 per cent in the quarter, well above the Bank of Canada’s most recent estimate of 1.5 per cent, published in mid-January.

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