Vancouver, B.C. – It is no surprise that the Bank of Canada maintained its target overnight rate at 1/2 percent today, reaffirming its view that the Canadian economy is still operating with considerable slack despite strong employment growth and inflation remaining below the 2 percent target. The policy statement highlighted that that “uncertainty about the global outlook is undiminished,
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Is Canada’s Housing Market Headed for a Fall?
The Bank of Canada is at it again, warning the public about a potential ‘correction’ in the housing market. Senior officials are clearly worried: “The elevated level of household debt and stretched valuations in some segments of the housing market remain an important downside risk to the Canadian economy”.