Inflation may be headed back to something more normal this year, but that doesn't mean the end of the rate hike cycle. RSM_Canada | realestate realestatenews inflation interestrates
says that inflation could potentially be “cut in half” to a healthier 3% by the end of 2023. By 2024, it says, inflation could finally fall to the Bank of Canada’s 2% target.
“Tightening financial conditions are hurting the Canadian economy to the point where the rising risk of a recession and a housing contraction much larger than anticipated cannot be discounted,” writes Joe Brusuelas, Chief Economist for RSM. “Although we expect the Bank of Canada to raise its policy rate to a peak of 4.75% by the middle of the year, after that the central bank will most likely use a lift-and-hold policy that will keep financial conditions tight.
, down from 6.3% in December, but shelter prices saw a 6.6% increase. Although that latter figure was down from an increase of 7% in December, StatCan notes that the mortgage interest cost index rose 21.2% in January — the largest increase since September 1982 — following an 18% increase in December.
“But just as cities face high office vacancy rates, they also face an acute shortage of housing — especially affordable housing,” writes Jake Salpeter, Manager of ESG Advisory Services for RSM. “Adaptive reuse offers a way not only to potentially ease the housing shortage, but also to combat climate change as developers make buildings more efficient .
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.
LFW Street Style 2023: The Best Looks Outside the Fall 2023 ShowsMotocross jackets, preppy silhouettes and cartoonish accessories dominated the sidewalks outside the LondonFashionWeek Fall 2023 shows.
Read more »
Inflation expected to take small dip as Statistics Canada releases January inflation data TuesdayA survey of economists found January’s numbers will likely be 6.1 per cent higher than at this time last year. That’s down slightly from the 6.3 per cent year-over-year inflation seen in December.
Read more »
Team NL arrives 2023 Canada Winter Games
Read more »
Newfoundland and Labrador 2023 Canada Winter Games results, Monday, Feb. 20 | SaltWireNicholas Mercer The Telegram nicholas.mercerthetelegram.com The 2023 Canada Winter Games are underway in Prince Edward Island until March 5. Here's a ...
Read more »