It was two years this week that the Bank of Canada first cut its key policy rate in response to get ahead of any economic fallout from a novel coronavirus.
The central bank recently pointed to better-than-expected economic growth to end to 2021, a roaring housing market and inflation rates at three-decade highs as signs it may be time to hike rates from emergency levels. He says the first rate hike may have the largest affect on how households manage their debt, but the central bank would have to raise rates by a full percentage point before there is an effect on the country's housing market."We'd need to see a number of Bank of Canada interest rate hikes before it would really begin to seriously affect the economy."
Source: Loan Digest (loandigest.net)
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