CANADA'S ECONOMY IS GROWING AGAIN — BUT RATE UNCERTAINTY REMAINS
Tiff Macklem said on September 21 that Canada's economy entered the summer in a stronger position: exports, investment and economic growth picked up, while labour-market conditions began improving. However, higher energy prices and renewed trade uncertainty have increased inflation risks, so the Bank of Canada is keeping its options open on future interest-rate moves. Click here for more details.
What this means for Metro Vancouver buyers/sellers: Today's rate environment provides some near-term stability for mortgage planning, while improving economic activity is constructive for housing demand. But buyers shouldn't assume another rate cut is coming soon: Macklem explicitly said the Bank does not want to tighten unnecessarily, but also won't wait too long if inflation becomes persistent.
