What Does a “Steady” Interest Rate Mean for Housing, Inflation?
Source: Craig Lord Global News, January 27, 2022
The Bank of Canada will hold its trendsetting interest rate steady at 0.25 per cent amid surging inflation.
The Bank of Canada did not hike its benchmark interest rate on Wednesday despite pressure to cool surging inflation and a red-hot housing market. The central bank’s officials did signal change was on the horizon though and offered hints at where consumer and housing prices could head in the months to come.
Governor Tiff Macklem said in prepared remarks to reporters that the central bank’s “emergency policy settings” tied to the COVID-19 pandemic are done as the country’s top economic officials lifted their commitment that held Canada’s interest rates at rock-bottom levels.
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