The Bank of Canada increased its benchmark rate by a whole percentage point on Wednesday, the most aggressive rate hike since 1998 and an even bigger jump than investors and Bay Street economists were expecting. This is the fourth consecutive interest rate hike since March, as central banks around the world attempt to curb runaway inflation and slow the pace of consumer price growth. The Bank of Canada’s policy rate now sits at 2.5 per cent.

Rapidly rising borrowing costs are already putting pressure on certain segments of the Canadian economy, most noticeably the housing market, which has seen declining prices and a slowdown in recent months. For homebuyers, being able to afford mortgage payments is increasingly becoming an additional hurdle to purchasing property.  Read more...  

The Globe and Mail

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Canadian home prices have been climbing for two decades, but the past two years have broken all records.

The 28-per-cent surge in Canadian home prices during that stretch reflects a pair of key policy choices. Each is worthy in itself, but a problem when taken together. 

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The number of housing units not occupied by 'usual' residents fell by 10 per cent in the city of Vancouver to 23,011 over the past five years, according to a new analysis of census data. Read More...DARRYL DYCK/THE CANADIAN PRESS



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The annual inflation in Canada rate hit 5.1% in January – the first time it has surpassed the 5% mark for over 30 years. Read More

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