When a central bank stops hiking rates, there inevitably come times when they second-guess themselves. Today is going to be one of them.
The real estate numbers that CREA just dropped displayed a resilience that doesn't jibe with 300-425 bps of rate increases and potential recession. BoC governor Tiff Macklem, who's already publicly stated his upside rate bias, will take notice.
Let's get to the highlights:
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