24 October 2012
This year Canada is predicted to show 2.2% growth, in 2013 – 2.3% and in 2014 – already 2.4%.
Actually, the report reveals almost the same data and outlooks as yesterday’s rate meeting statement, although it focuses more on the unstable global economic situation and the risk of rising household debt level. Yesterday BoC didn’t change its overnight rate and for more than 2 years it stands at 1%.
In case of the housing market, the central bank expects a certain activity decline, but without any sharp crash. “In spite of the massive overbuilding, the housing investment is still at the historically high level”, – the report suggests. Especially, in the condo markets segment.