Chief Economist Douglas Porter’s tentative prediction came after Toronto home sales bounced 11 per cent in August from the previous month. While benchmark prices continue to drop, the jump in activity could be a sign the market slide is easing even amid rising interest rates and an uncertain economic outlook.Sign up to receive the daily top stories from the Financial Post, a division of Postmedia Network Inc.
Governor Tiff Macklem and his officials have already raised the central bank’s benchmark overnight rate to 2.5 per cent from 0.25 per cent in March. Markets and economists expect a three-quarter-point hike to 3.25 per cent at its Sept. 7 policy decision, with another hike likely in October, according to the median estimate in a Bloomberg survey.Article content
financialpost Money still cheap. I only get 4.5% on three years GIC
financialpost The full effect of these last interest rates haven’t even took full effect. Come February people will start feeling the pressures of higher rates. History has shown interest rates need to be almost 2% higher then inflation before inflation gets whacked down.
financialpost 👍🏽👍🏽👍🏽
financialpost ManyBeenRinsed - MSM is back at it. Article says ‘flicker’, headline says ‘bounces back’ 🙄
financialpost Go above 7%
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