Analysis: Risk of a housing slump, rising loonie mar good news for Canadian economy – By Don Pittis (CBC News) / July 15 2021
Bank of Canada projects optimism as it begins mopping up cash — but risks remain
Bank of Canada governor Tiff Macklem had some optimistic comments when he met with reporters Wednesday following his latest Monetary Policy Report. But, as usual, the risks for the economy make far more interesting reading.
One of those risks could begin showing itself in real estate data expected later today.
When the Canadian Real Estate Association releases its latest price and sales numbers for resale homes, there may be early signs that a moderate decline in demand for housing could change into what the bank has warned could become a “pronounced slowing.”
As usual, as smart as they may be, the clever people who advise Canada’s top central banker can only make educated estimates about what the future holds for the domestic and global economy, based on the data they collect now.
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