it was pulling forward its growth projections from some time in 2023 to the second half in 2022, Macklem said it will be watching developments in the housing market “very closely.”Article contentRobert Kavcic, Bank of Montreal
“You almost have acknowledgment on three fronts that the strength we’re seeing is excessive, and probably needs to be dealt with in some fashion,” he said, referencing today’s central bank announcement and proposals by OSFI and in the budget.the Post that he believed the central bank would need to raise interest rates in order to address demand in the housing market that had “completely vapourized” supply.
On the flip side, Royal Bank of Canada senior economist Robert Hogue believes the calendar bump for interest rate action will have a negligible impact on the housing market in the near term.