Why did the Bank of Canada (BofC) increase their overnight rate by 0.50%? In its accompanying press release and supporting monetary policy report, the BofC provided context for its increase by stating: “…the economy continues to operate in excess demand and labour markets remain tight….The effects of recent policy rate increases by the Bank are becoming evident in interest -sensitive areas of the economy: housing activity has retreated sharply, and spending by households and businesses is softening…”
Having spent much if not most of the last 20 years in and around Yonge and St Clair - this pocket of Toronto has many fond memories for me. 2 St Clair West was where I first started work and 45 St Clair West where I spent the best part of the next decade - they were some good times indeed! Hanging out after work at what is now
For any of you that study the homes for sale street activity, you will understand that we have come out of a slow listing period year to date. Well, let me tell you this changed in May, as it became the busiest month of the year so far and seems to be the precursor to what will be a busy spring market in Toronto.