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Bank of Canada Agrees With Us: Market Stabilizing

11 July 2018
Andrew Gibson

BoC Governor Stephen Poloz Confirms Widely Anticipated Rate Hike

"...In its decision to hike, the bank noted in a statement that the housing market is stabilizing, commodities such as oil are starting to rally, and businesses are starting to spend again. From the bank's point of view, those are all good signs for the economy..."

As we said the other day in our synopsis of the June, 2018 Toronto & GTA housing figures, the operative word might be "Stabilizing".

The Bank of Canada raised our benchmark rate twenty-five points today to 1.50% - the fourth hike since the summer of 2017.

Image - BOC Governor Poloz - 2018-07

Read the entire article at CBC.ca