在加拿大央行3月利率决定之前，关注加拿大国内生产总值。在12月和1月劳动力市场报告更加强劲之后，加拿大国内生产总值将成为关注的焦点，而整体通胀意外上升增加了加拿大央行放弃3月份再次降息的可能性。

Focus on Canadian GDP Ahead of BoC's March Interest Rate Decision.Canadian gross domestic product will be in focus after firmer labour market reports in December and January, and an upside headline inflation surprise increased the odds that the Bank of Canada will forego another rate cut in March.

周五，标准普尔/多伦多证交所综合指数下跌1.4%，收于25147点，使其周跌幅达到1.3%，因为投资者评估了好坏参半的经济数据，这些数据给加拿大央行的政策轨迹带来了不确定性。1月份零售额下降0.4%，为七个月来首次下降，这表明在12月强劲增长后，消费者支出疲软，引发了人们对经济势头的担忧。与此同时，通胀压力依然强劲，工业生产者价格环比上涨1.6%，原材料价格指数环比上涨3.7%，突显出中国银行在平衡增长和价格稳定的同时缓和进一步宽松预期的挑战。大多数股票交易持平至负值，但大宗商品生产商在油价和金价下跌的情况下大幅下跌。能源巨头加拿大自然、森科尔、帝国石油和Cenovus下跌1.3%至4.2%，而主要矿商Agnico Eagle、Barrick Gold、Wheaton Precious和Franco-Nevada下跌1.6%至2.3%。

The S&P/TSX Composite Index dropped 1.4% to close at 25,147 on Friday, bringing its weekly loss to 1.3% as investors assessed mixed economic data that cast uncertainty over the Bank of Canada’s policy trajectory. A 0.4% decline in January retail sales, the first drop in seven months, signaled softening consumer spending after December’s strong surge, raising concerns about economic momentum. Meanwhile, inflationary pressures remained strong, with industrial producer prices rising 1.6% and the Raw Materials Price Index jumping 3.7% month-over-month, highlighting the BoC’s challenge in balancing growth and price stability while tempering expectations for further easing. Most equities traded flat to negative, but commodity producers saw sharp declines amid declining oil and gold prices. Energy giants Canadian Natural, Suncor, Imperial Oil, and Cenovus lost between 1.3% and 4.2%, while major miners Agnico Eagle, Barrick Gold, Wheaton Precious, and Franco-Nevada shed 1.6% to 2.3%.

加拿大10年期政府债券收益率跌至3.17%以下，从2月20日的3.21%的三周高点回落，因为投资者在追踪美国国债收益率下降的同时，权衡了国内数据的好坏。预计1月份零售额将下降0.4%，这是七个月来的首次下降，表明在12月强劲增长后消费者支出疲软，引发了人们对经济势头的担忧。相反，持续的通胀压力凸显了中国银行在平衡增长和价格稳定方面的挑战，因为工业生产者价格飙升1.6%，原材料价格指数环比上涨3.7%，缓和了降息预期。此外，加拿大国债收益率跟随美国国债下跌，此前疲软的服务业数据加强了美联储的降息押注，而进一步的支持来自财政部决定维持目前长期证券的份额，以及美联储可能暂停资产出售的信号，这提振了债券需求。

Canada’s 10-year government bond yield fell below 3.17%, retreating from a three-week high of 3.21% on February 20th, as investors weighed mixed domestic data while tracking lower US Treasury yields. An expected 0.4% drop in January retail sales, the first decline in seven months, signaled softening consumer spending after December’s strong gain, raising concerns about economic momentum. Conversely, persistent inflationary pressures underscored the BoC's challenge in balancing growth and price stability, as industrial producer prices surged 1.6% and the Raw Materials Price Index jumped 3.7% month-over-month, tempering rate cut expectations. Additionally, Canadian yields followed US Treasuries lower after weak services data reinforced Fed rate cut bets, while further support came from the Treasury’s decision to maintain the current share of long-term securities and the Fed’s signal that it may pause asset sales, boosting bond demand.

标准普尔/多伦多证交所综合指数周五下跌0.3%，至25450点以下，为每周表现持平奠定了基础，因为投资者消化了混合经济数据，这些数据给加拿大银行的货币政策前景带来了不确定性。1月份零售额下降0.4%，为七个月来首次下降，这表明在12月强劲增长后，消费者支出放缓，引发了对国内增长势头的担忧。早些时候的数据突显了强劲的通胀压力，工业生产者价格飙升1.6%，原材料价格指数环比上涨3.7%，突显了中国银行在平衡增长与价格稳定以及降低进一步宽松预期方面的挑战。大多数股票交易持平，大宗商品生产商大幅下跌，而金融股表现强劲。

The S&P/TSX Composite Index fell 0.3% to below the 25,450 mark on Friday, setting the stage for a flat weekly performance as investors digested mixed economic data that cast uncertainty over the Bank of Canada’s monetary policy outlook. A 0.4% decline in January retail sales, the first drop in seven months, suggested a slowdown in consumer spending following December's robust surge, raising concerns about domestic momentum. Earlier figures highlighted strong inflationary pressures, with industrial producer prices surging 1.6% and the Raw Materials Price Index jumping 3.7% month-over-month, underscoring the BoC's challenge of balancing growth with price stability and reducing expectations for further easing. Most equities traded flat, with commodity producers falling sharply, while financial stocks performed robustly.