As the Bank of Canada prepares for its April 29 interest rate decision, market consensus remains clear: a hold is imminent. Despite recent inflation spikes—with March data showing a 2.4% annual increase—TD Bank’s deputy chief economist, Derek Burleton, suggests the central bank will likely treat the current inflationary pressure as a temporary shock linked to geopolitical volatility in Iran. Speaking at the recent CMBA-ON conference in Mississauga, Burleton emphasized that with the economy currently in a soft state, the Bank of Canada is unlikely to repeat the aggressive tightening seen in 2022. For GTA homeowners and prospective buyers, this signals continued stability at a 2.25% policy rate. Burleton noted that if the Bank does shift its stance, a rate cut is more probable than a hike, given the ongoing drag from U.S. tariffs. For more expert analysis, read the full report at MPA Magazine.
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