Rate Hold Means Status Quo for Canada’s Struggling Housing Market: Experts

Rate Hold Means Status Quo for Canada’s Struggling Housing Market: Experts
A new home is shown for sale in a housing development in Ottawa on July 14, 2020. The Canadian Press/Sean Kilpatrick
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Real estate watchers say the Bank of Canada’s decision to hold its key policy rate steady at 2.75 percent will likely keep a sluggish housing market at the status quo.

Wednesday’s announcement marked the first time the central bank has left the benchmark rate unchanged following seven consecutive cuts since June.