As GTA homeowners and investors look toward the Bank of Canada’s upcoming April 29th decision, industry experts are calling a rate hold a ‘slam dunk.’ Despite a recent uptick in annual inflation to 2.4%—largely fueled by geopolitical tensions in the Middle East—TD Bank’s deputy chief economist, Derek Burleton, suggests the central bank will likely ‘look through’ this temporary shock. Speaking at the recent CMBA-ON conference, Burleton noted that the current rate of 2.25% sits at a comfortable, neutral level for the BoC. While inflation could climb toward 4% in the near term, the ongoing softness in the Canadian economy means the bar for further rate hikes remains high. In fact, if the Bank moves, a cut is considered more likely than a hike. For a deeper dive into how these macroeconomic factors may influence your mortgage strategy, read the full analysis at MPA Mag.
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