The Bank of Canada's deliberations from its rate cut on June 5 show anxiety within the governing council about lower borrowing costs leading to an 'overheated housing market.'
had concerns that easing the cost of borrowing could lead to an “overheated housing market” before delivering a cut to the central bank’s policy rate earlier this month, newly released documents show.
, by extension – or delivering a cut, as many economists and market watchers expected amid recent signs of easing price pressures.. The overall inflation rate has slowed every month so far in 2024, and core inflation, which the Bank of Canada watches closely to gauge its progress, has also shown signs of easing.In the deliberations, the governing council acknowledged having more “confidence” lately in getting inflation all the way back down to its mandated two per cent target.
Geopolitical tensions, renewed consumer spending and persistently strong wage growth were also listed as risks to the inflation outlook.
Inflation Interest Rate Canada Economy
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
National Bank of Canada agrees to buy Canadian Western BankShares of Canadian Western Bank (CWB.TO) are soaring after the National Bank of Canada agreed to buy it for about $5 billion CAD. Yahoo Finance's Julie Hyman...
Read more »
European Central Bank lowers rates after Bank of Canada cutInflation in the 20 countries that share the euro has fallen from more than 10 per cent in late 2022 to just above the ECB's two per cent target in recent months.
Read more »
The wiggle room around 2% inflation targetsDid the European Central Bank and the Bank of Canada rashly jumped the gun?
Read more »
Bank of Canada considered waiting until July to cut interest ratesThe Bank of Canada's governing council thought about waiting until July to lower interest rates but ultimately decided to cut earlier, the central bank's summary of deliberations reveals.
Read more »
Bank of Canada Considered Waiting Until July to Cut Rates(Bloomberg) -- Bank of Canada officials discussed whether to wait until July to cut interest rates, in order to confirm inflation is still on track to reach ...
Read more »
Canadian dollar steadies ahead of Bank of Canada minutesLoonie at 72.89 U.S. cents
Read more »