All eyes are on Bank of Canada governor Stephen Poloz this week as those in the mortgage business await this Wednesday’s decision in interest rates. Analysts are not united but there are plenty who are calling for a cut in interest rates to give a shot in the arm to the economy, especially the key export market. The concern of economists, the government, and the real estate sector is that a cut could lead to further risk of a bubble in the Toronto and Vancouver housing markets, and potentially create additional over-heating elsewhere. Making a call on what the BoC’s decision might be has been made harder by mixed economic data and the continued ebbs and flows of the oil prices.
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