Bank of Canada’s rate cut deliberations detail housing market anxieties

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Bank Of Canada Notícia

Inflation,Interest Rate,Canada

The Bank of Canada's deliberations from its rate cut on June 5 show anxiety within the governing council about lower borrowing costs leading to an 'overheated housing market.'

had concerns that easing the cost of borrowing could lead to an “overheated housing market” before delivering a cut to the central bank’s policy rate earlier this month, newly released documents show.

, by extension – or delivering a cut, as many economists and market watchers expected amid recent signs of easing price pressures.. The overall inflation rate has slowed every month so far in 2024, and core inflation, which the Bank of Canada watches closely to gauge its progress, has also shown signs of easing.In the deliberations, the governing council acknowledged having more “confidence” lately in getting inflation all the way back down to its mandated two per cent target.

Geopolitical tensions, renewed consumer spending and persistently strong wage growth were also listed as risks to the inflation outlook.

 

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