Bank of Canada still betting on soft landing for housing

Although the Bank of Canada gave no indication in last week’s policy statement that it was considering an interest rate cut, Governor Stephen Poloz freely admitted in his press conference that an immediate reduction was considered at the meeting. That makes us even more confident that the Bank will cut interest rates again in the first half of next year, particularly as the Bank is still praying for the very softest of soft landings in the housing market.