Economists attribute much of the cooling to rising interest and mortgage rates.
High household debt and elevated housing prices have become bigger vulnerabilities in the past year, but the economy can handle the rising interest rates needed to tame inflation, central bank says.
Bank of Montreal chief economist Doug Porter said it's highly unlikely Canadians are in for a double-digit, '80s-style interest rate shock any time soon.
As the world copes with the impacts of the Russian invasion of Ukraine, central banks around the world are responding to record-high inflation with adjusted interest rates.
He wouldn't rule out pushing rates beyond 50 basis points all in one sitting, after moving to lift rates by that amount to one per cent just last week, but said he "is prepared to be as forceful as…
Bank's latest Business Outlook Survey found that more than two-thirds of businesses anticipate inflation will be above three per cent, on average, over the next two years.
A new poll suggests Canadians are looking for ways to cut back on spending as their concerns about the cost of living rise alongside headline inflation rates.
Housing experts say prospective homebuyers hoping Wednesday's interest rate hike will cool the country’s heated real estate market will likely be disappointed.
The central bank increased its key rate by a quarter of a percentage point to 0.5 per cent in a bid to help fight inflation, which is at its highest level since 1991.
The country's hot housing market drove economic expansion last year as the economy grew 4.6 per cent in 2021, Statistics Canada said Tuesday.