Bank of Canada maintains policy rate, continues quantitative tightening

FOR IMMEDIATE RELEASE Media Relations Ottawa, Ontario March 8, 2023 The Bank of Canada today held its target for the overnight rate at 4½%, with the Bank Rate at 4¾% and the deposit rate at 4½%. The Bank is also continuing its policy of quantitative tightening. Global economic developments have evolved broadly in line with…

Buyers return to Toronto housing market as prices level off in Feb 2023

Home prices in the Greater Toronto Area (GTA) experienced their largest year-over-year drop on record in February, falling nearly 18% as the number of properties sold was halved, according to the Toronto Regional Real Estate Board (TRREB). The average selling price for February was $1,095,617, which was about 5% higher than January’s average price of…