As GTA homeowners and prospective buyers navigate a volatile spring market, the Bank of Canada (BoC) remains firmly in ‘wait-and-see’ mode. Despite March’s headline inflation ticking up to 2.4%—largely fueled by a temporary oil price spike following the conflict in Iran—economists argue the case for rate hikes remains weak.
CPA Canada’s chief economist, David-Alexandre Brassard, notes that while energy costs have fluctuated, core inflation continues to ease. For the GTA, this is a critical distinction; the local housing sector remains fragile, and with regional employment down by approximately 100,000 jobs in 2026, the current 2.25% policy rate is already exerting significant pressure. Major financial institutions, including TD Economics and CIBC, suggest the central bank will likely stay on the sidelines through the remainder of the year. For deeper insights into how these macro-economic trends may impact your mortgage strategy, read the full report at [MPA Magazine](https://www.mpamag.com/ca/mortgage-industry/industry-trends/bank-of-canada-seen-holding-firm-despite-oil-driven-inflation-spike/572746).
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