the first major central bank to halt monetary-policy tightening and puts it on a different trajectory than the U.S. Federal Reserve, whose officials have said they expect to increase interest rates several more times.
This sounds like good news for borrowers, but central bank officials say they need more evidence that the economy is cooling and inflation is slowingProperty taxes are going up 10.7 per cent and 5.5 per cent in Vancouver and Toronto, respectively. Victoria is looking for ways to raise revenue so it can keep this year’s tax hike to 6.9 per cent, and Montreal’s 2023 budget includes an average tax increase of 4.1 per cent.
Now comes federal budget season, and the government has to balance a deficit and big spending commitments. And despite high interest rates and stubborn inflation,Canadians are caught up in the fiercest interest-rate shock in decades. Despite punishing payment increases, the overwhelming majority of mortgage borrowers are hanging tough, at least so far. In his weekly column, Robert McLister gives
More rate hikes. Inflation expectations are embedding fast.
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