Economists Expect Inflation Eased in January, but Housing Still ‘Thorn’ in BoC’s Side

A customer browses an aisle at a Metro grocery store In Toronto on Feb. 2, 2024. The Canadian Press/Cole Burston

As the Bank of Canada waits for the right moment to start cutting interest rates, some economists are arguing that its decision shouldn’t hinge on the housing market.

Canada’s inflation rate has edged up and down over the last several months after dropping from its 2022 highs as global price pressures fade and the economy cools.