Canada\u0027s slowing real estate sector was granted a reprieve by the Bank of Canada after it held its policy interest rate at 5%. Read more.
The Sept. 6 announcement, however, did not take further rate hikes off the table. The governing council said it would remain vigilant against persistent inflationary pressures, and affirmed its readiness to adjust the policy interest rate if deemed necessary.
Pritesh Parekh, a realtor in Toronto, said the rate hold would give many in the housing sector a much-needed respite. Adil Dinani, a realtor at Royal LePage West in Vancouver, said that while the relief was palpable, the rate decision isn’t a game-changer.Article content
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