Bank of Canada Expected to Slash Interest Rates Again Tomorrow
RBC reported today that they:
We look for the Bank of Canada to slash the overnight rate by 50 bps to 3% and expect the statement will reinforce policymakers’ concerns about Canada’s economic prospects given the sustained volatility in financial markets, rising cost of capital and growing downside risks to the US economy.
This should help out Vancouver home buyers who are already getting more and more selection of properties to choose from, and more time to think about their decisions in our balancing real estate market (in most, but not all areas).
Tune in tomorrow to find out just what they the BOC will do. Can you stand the anticipation?
Matthew Collinge: Vancouver REALTOR®
