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Canada’s central bank on July 14 published new forecasts predicting the country is on the verge of an impressive burst of economic growth that will offset a disappointing start to the year.
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The projections weren’t strong enough to alter Macklem’s plan to keep the benchmark interest rate pinned near zero until at least the second half of next year, but evidence of gathering momentum prompted policy-makers to pare their weekly purchases of Government of Canada bonds to $2 billion, from $3 billion previously.
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The relentless march of Canadaâs luxury real estate market continues to see strength as multi-million dollar home sales smash records.
Toronto led the charge with a 400 per cent increase in attached home sales worth over $4 million dollars since last year, according to a report from luxury real estate firm Sothebyâs International Canada. In Vancouver, there was a similar frenetic pace in these types of home sales, seeing a boost of 300 per cent year-over-year.
Montrealâs market also impressed the firm, managing to break Sothebyâs all-time condo sale price record with a $12.9 million penthouse at de la Montagne and Sherbrooke.
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