Experts say that the Bank of Canada will be careful not to do or say anything that might trigger the spring housing market.Wednesday will bring another interest rate announcement from the Bank of Canada and anyone with ears to the ground will be anticipating yet another hold. In fact, economists withare all calling for a hold — albeit, with a dovish lean, as there are unmistakable signs that the bank’s monetary medicine is working.
“There's more at play here than just housing, but I can tell you, the bank will be watching housing very carefully. Even some of the early price growth indicators we've seen will be sending warning signals off inside the grand old Bank of Canada building in Ottawa,” says Soper. “If there was anyone there that was eager to get on with rate cuts, this will set them back in their chair and they're going to be a little patient. They don't want to trigger a crazy spring market.
“It's a bit of a mix, but there's a group sitting waiting for at least one, or probably more likely two, rate cuts before they jump back in,” says Lusink.
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