As the CRE community in the US holds its breath awaiting another rate hike expected from the Fed, glimmer of hope emerged from an unexpected place: the Bank of Canada.
There was nothing hopeful about what Canada's central bank actually did on Wednesday: it enacted its seventh consecutive rate hike, a 50 bps increase, bringing the bank's target rate to 4.25%. It was what the bank's governors said immediately after the rate hike that has US investors crossing their fingers.
At a press conference after delivering a speech in Montreal, Bank of Canada Deputy Governor Sharon Kozicki signaled that a pivot is approaching.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
*May exclude premium content
Already have an account?
Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
