Today News: Bank of Canada Expected to Hold Steady on Interest Rates – Nhausa
Home Prices In This Country Will be Flat for The Rest of this Year
Central Bank of Canada – Interest
Our business headlines now the Bank of Canada is set to make its next interest rate decision that will happen tomorrow being in Bloomberg’s Jacqueline Henson has more from Toronto most economists expect Canada’s Central Bank to to hold interest rates where they are tomorrow at 5 percent (5%).
In fact the next move expected is an interest rate cut economists surveyed by Bloomberg suggest five percent will be the bank of Canada’s interest rate Peak they anticipate that rates will stay that high until next year then a couple of cuts could be in the cards the economists surveyed anticipate that by the end of 2024 interest rates will be at four percent meanwhile the central bank has been the target of politicians lately over the weekend Ontario Premier Doug Ford echoed BC’s Premier David EBY in asking the Bank of Canada to stop hiking interest rates.
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Ford says Ontario families and businesses are struggling with the crushing costs of the bank’s interest rate hikes and a new report by Re Max suggests that home prices in this country will be flat for the rest of this year the report says inventory remains limited so there’s not a lot on the market to choose from plus it says some of the highest mortgage costs in decades are forcing many prospective buyers to wait that is the latest from Bloomberg.
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Reporter: Jacqueline Hanson
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