Bank of Canada talks about corrections in some housing markets

Thursday, April 16th, 2015

Jamie Henry

In the Bank of Canada’s economic outlook on Wednesday it reiterated its concern about the housing market, saying that it still expected a soft landing for most regions.

However, as the bank confirmed that interest rates were holding steady at 0.75 per cent, it sounded a warning about corrections in some markets.

Alberta’s oil industry downturn is a factor for concern, but so is the growth of prices in Toronto and Vancouver.

The BoC noted that if there was to be a correction in prices in those markets it shouldn’t spill over into other regions, but that it would be “a major event” if it did. 

Copyright © 2015 Key Media Pty Ltd

Comments are closed.