The Bank of Canada held interest rates at 2.75 per cent on Wednesday, pointing to a mixed bag of unexpectedly strong data and the uncertainty of U.S. tariffs as reason for the hold — and some experts say, going forward, rate cuts alone won't be enough to stop an economic slowdown.
In his opening remarks to reporters, governor Tiff Macklem characterized the Canadian economy as "softer but not sharply weaker" and said the central bank's governing council was in agreement about today's rate decision. The decision marks the second consecutive hold since March.
Economists had largely pivoted from initial expectations the central bank would cut the interest rate by 25 basis points after the first-quarter GDP came in at an annualized rate of 2.2 per cent last week, which was stronger than anticipated. click here to read more
The data relating to real estate on this website comes in part from the MLS® Reciprocity program of either the Greater Vancouver REALTORS® (GVR), the Fraser Valley Real Estate Board (FVREB) or the Chilliwack and District Real Estate Board (CADREB). Real estate listings held by participating real estate firms are marked with the MLS® logo and detailed information about the listing includes the name of the listing agent. This representation is based in whole or part on data generated by either the GVR, the FVREB or the CADREB which assumes no responsibility for its accuracy. The materials contained on this page may not be reproduced without the express written consent of either the GVR, the FVREB or the CADREB.