Erin Nicole Davis is a born and raised Toronto writer with a passion for the city and its urban affairs and culture.
The announcement Canadian homebuyers – and would-be homebuyers – have been waiting for could be just days away. RBC Economics is doubling down on its forecast that the Bank of Canada will finally kick-start its easing of sky-high interest rates on Wednesday, June 5th.– have been waiting for could be just days away. RBC Economics is doubling down on its forecast that the Bank of Canada will finally kick-start its easing of sky-high interest rates on Wednesday, June 5th.
“Evidence has continued to build that the current high level of interest rates is no longer needed,” reads the report. “The Canadian economy has softened significantly. Gross domestic product per capita posted another decline in Q1 this year. Inflation pressures have also slowed with the closely watched three-month growth rate in the BoC’s preferred median and trim core consumer price index measures both running below the 2% inflation target in April.
The report makes note of Canada’s weakened housing market, a clear by-product of buyers being challenged by high borrowing costs and high prices. “Wary of those risks, the BoC will likely continue to suggest that the pace of additional easing will be slow and gradual,” reads the report. “Still, we expect that, ultimately, a softer economy will keep inflation pressures moving lower in Canada.
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.
TD Doubles Down On July Interest Rate CutErin Nicole Davis is a born and raised Toronto writer with a passion for the city and its urban affairs and culture.
Read more »
RBC Forecasting First Bank Of Canada Interest Rate Cut For JuneZakiya is a staff writer with STOREYS. She has reported on real estate for Apartment Therapy, Curbed, and Post City Magazines. She also writes a quarterly series for a Canadian design publication.
Read more »
North Korea flies trash balloons over the South as Kim doubles down on satellite ambitionsThe balloon campaign comes as Kim Jong-un urges his military scientists to overcome a failed satellite launch and continue developing space-based reconnaissance capabilities
Read more »
North Korean leader Kim doubles down on satellite ambitions following failed launchSEOUL, South Korea (AP) — North Korean leader Kim Jong Un urged his military scientists to overcome a failed satellite launch and continue developing space...
Read more »
Activist Cevian Doubles Down on Swiss Finance With Baloise StakeActivist fund Cevian Capital AB became a major shareholder in Baloise Holding AG, marking its second big investment in the Swiss finance industry after recently taking a stake in UBS Group AG.
Read more »
Cardi B Doubles Down On Pledge Not To Vote For Biden or Trump This NovemberKelby Vera is a Senior Reporter for HuffPost's Trends team and is based in Los Angeles. Her work has appeared in Hollywood Life, Vice, Paper, and DailyMail.com, focusing on entertainment, pop culture, and U.S. politics.
Read more »