Why the Bank of Canada Kept Rates Unchanged Again: Governor Says Economy Is Weak but Not in Recession - Commonwealth Union
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The Bank of Canada recently announced that it would keep the benchmark interest rate unchanged at 2.25% for the fifth consecutive time, in line with market expectations. This decision may be somewhat disappointing for many buyers who were hoping for further declines in mortgage costs, but mortgage experts believe that the Canadian housing market is currently in a delicate phase: while there are no obvious stimuli in the short term, housing price…
Why the Bank of Canada Kept Rates Unchanged Again: Governor Says Economy Is Weak but Not in Recession - Commonwealth Union
Bank of Canada (BoC) governor Tiff Macklem doesn’t think the economy is in a recession. However, he does acknowledge some recent weakness. This weakness is something other economists argue may give the central bank more leeway to retain its key interest rate steady for the rest of this year. The BoC’s rate decision arrived after days of debate over whether the country’s in a recession. A second consecutive economic contraction in the first quart…
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