Diego, Karen & Rodrigo Balcazar
RE/MAX Escarpment
Languages
- English
- Spanish
Specialties
Business Opportunities, Buyers, Condominiums, Downsizing, First Time Buyers, First Time Sellers, Investments, Multi-Family, New Builds, New Construction, Relocation, Rentals, Residential, Sellers
Locations
Ancaster, Brantford, Burlington, Caledonia, Dundas, Grimsby, Hamilton, Milton, Niagara Falls, Niagara-on-the-Lake, Oakville, St. Catharines, Stoney Creek, Thorold, Waterdown
Oct 23/24 - Bank of Canada reduces policy rate by 50 basis points to 3.75%
The Bank of Canada reduced its target for the overnight rate to 3.75% and expects the global economy to expand at a rate of about 3% over the next two years. In Canada, the economy grew at around 2% in the first half of the year and is expected to grow at 1¾% in the second hal...
Oct 23, 2024
The Bank of Canada reduced its target for the overnight rate to 3.75% and expects the global economy to expand at a rate of about 3% over the next two years. In Canada, the economy grew at around 2% in the first half of the year and is expected to grow at 1¾% in the second half. The labour market remains soft, with the unemployment rate at 6.5% in September. GDP growth is forecast to strengthen gradually over the projection horizon, supported by lower interest rates. CPI inflation has declined significantly from 2.7% in June to 1.6% in September. The Bank expects inflation to remain close to the target over the projection horizon. With inflation now back around the 2% target, the Bank decided to reduce the policy rate by 50 basis points to support economic growth and keep inflation close to the middle of the 1% to 3% range.
read more at https://www.bankofcanada.ca/2024/10/fad-press-release-2024-10-23/