The Globe and Mail reports in its Saturday edition that economists predict that the Bank of Canada will proceed with its plan to reduce interest rates next week. A Canadian Press dispatch to The Globe reports that according to Statistics Canada, the economy expanded at an annualized rate of 2.1 per cent in the second quarter, surpassing the BOC's predictions. However, real gross domestic product per person continued to decline for the fifth consecutive quarter. Typically, economists use GDP per capita to gauge the standard of living. In addition, overall economic growth slowed down at the end of the quarter, with real GDP remaining relatively unchanged in June. A preliminary estimate indicated that the economy stayed flat in July as well. Canadian Imperial Bank of Commerce economist Andrew Grantham said that while the second quarter showed slightly better economic growth than expected, the weak momentum at the start of the third quarter presents grounds for the BOC to persist with interest rate cuts. The BOC is scheduled to announce its next interest-rate decision on Wednesday, and most economists anticipate a 0.25-percentage-point reduction in its key policy rate, making it the third consecutive rate cut.