Core Viewpoint - The rebound in Canada's GDP for June indicates a solid foundation for economic improvement in Q3, despite a projected contraction in Q2 [1] Economic Performance - Official data shows a 0.1% decline in GDP for May, consistent with the previous month's decrease [1] - The GDP for June is expected to grow by 0.1% when broken down by industry, suggesting a projected annualized decline of 0.2% for Q2 [1] Contributing Factors - The decline in May was attributed to temporary factors, such as equipment upgrades in the energy sector's refining industry [1] - A downturn in the public administration sector was noted, seen as a correction following growth in April due to elections [1] Future Outlook - Despite the anticipated contraction in Q2, the company does not expect a similar situation to occur in Q3 [1]

Core Viewpoint - The Vice President of the European Central Bank, Luis de Guindos, stated that further interest rate cuts will not aid in improving the economy, emphasizing the need for certainty instead [1] Group 1 - The current economic situation requires more than just monetary policy adjustments; certainty is crucial for economic improvement [1] - The statement reflects a broader sentiment within the European financial landscape regarding the limitations of traditional monetary policy tools [1]