Premier Doug Ford is once again calling on the Bank of Canada to lower interest rates.
Published Tuesday, July 23, 2024 4:48PM EDT
However, it is unlikely that doing so will have an immediate impact on a real estate market that has slowed considerably since the Bank of Canada began hiking rates from a pandemic-era low in March 2022. Speaking with reporters at a news conference in Kitchener on Monday, Ford said that Bank of Canada Governor Tiff Macklem needs to keep cutting rates in order to help with the construction of new homes in Ontario.
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