The Bank of Canada said this morning that Canada’s frantic economic growth will slow as the housing market cools off, the dollar remains at a strong level and stimulus spending dries up.
Central Bank: Canada Real Estate Market to Slow Sharply…
(Source: The Globe and Mail)
The central bank’s monetary policy report, which expands on its surprise decision Tuesday to point the way to higher interest rates as early as June, noted again that the recovery is stronger than expected. And, it said, “although some slowing is anticipated from the rapid pace registered early in the year, consumer spending is expected to grow robustly throughout the projected horizon, aided by an accommodative monetary policy, gains in employment and labour income, and improved consumer confidence.”
Read the full article, “Real estate market to slow sharply, central bank says” in the Globe and Mail (April 22, 2010).