Jamie Henry
Other
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.
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