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Rate hike holding likely to keep housing hot
With the Bank of Canada now widely expected to hold off on a rate hike at least until autumn, house prices in Canada are likely going to stay hot for a few months longer.
The central bank will again leave its benchmark lending rate unchanged at 1% at its regular policy announcement on Tuesday, according to the unanimous result of 22 economists surveyed by Bloomberg News.
With signs the U.S. and global economies have entered a soft patch and the European debt crisis continuing to roil, most economists do not expect the bank to raise its overnight target rate until at least September. That would mark a full year on hold for the bank, which last raised rates in September 2010.
Read the full article here.
With the Bank of Canada now widely expected to hold off on a rate hike at least until autumn, house prices in Canada are likely going to stay hot for a few months longer.
The central bank will again leave its benchmark lending rate unchanged at 1% at its regular policy announcement on Tuesday, according to the unanimous result of 22 economists surveyed by Bloomberg News.
With signs the U.S. and global economies have entered a soft patch and the European debt crisis continuing to roil, most economists do not expect the bank to raise its overnight target rate until at least September. That would mark a full year on hold for the bank, which last raised rates in September 2010.
Read the full article here.