Shenfeld, chief economist of CIBC Capital Markets, said gains

What has become almost a seemingly monthly ritual in 2017, we are nudging up our call on Canadian GDP growth yet again to 3.1 per cent for the year and 2.5 per cent for Q3 and would readily allow that there is some upside risk. Shenfeld, chief economist of CIBC Capital Markets, said gains in incomes and a rise in the savings rate give Canadian consumers more room to spend during the third quarter. In July, the Bank of Canada rose its benchmark interest rate for the first time in seven years.

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