The Bank of Canada today increased its target for the overnight rate to 3¼%, with the Bank Rate at 3½% and the deposit rate at 3¼%. The Bank is also continuing its policy of quantitative tightening.
The global and Canadian economies are evolving broadly in line with the Bank’s July projection. The effects of COVID-19 outbreaks, ongoing supply disruptions, and the war in Ukraine continue to dampen growth and boost prices.
Global inflation remains high and measures of core inflation are moving up in most countries. In response, central banks around the world continue to tighten monetary policy. Economic activity in the United States has moderated, although the US labour market remains tight. China is facing ongoing challenges from COVID shutdowns. Commodity prices have been volatile: oil, wheat and lumber prices have moderated while natural gas prices have risen.
In Canada, CPI inflation eased in July to 7.6% from 8.1% because of a drop in gasoline prices. However, inflation excluding gasoline increased and data indicate a further broadening of price pressures, particularly in services. The Bank’s core measures of inflation continued to move up, ranging from 5% to 5.5% in July. Surveys suggest that short-term inflation expectations remain high. The longer this continues, the greater the risk that elevated inflation becomes entrenched.
The Canadian economy continues to operate in excess demand and labour markets remain tight. Canada’s GDP grew by 3.3% in the second quarter. While this was somewhat weaker than the Bank had projected, indicators of domestic demand were very strong – consumption grew by about 9½% and business investment was up by close to 12%. With higher mortgage rates, the housing market is pulling back as anticipated, following unsustainable growth during the pandemic. The Bank continues to expect the economy to moderate in the second half of this year, as global demand weakens and tighter monetary policy here in Canada begins to bring demand more in line with supply.
Given the outlook for inflation, the Governing Council still judges that the policy interest rate will need to rise further. Quantitative tightening is complementing increases in the policy rate. As the effects of tighter monetary policy work through the economy, we will be assessing how much higher interest rates need to go to return inflation to target. The Governing Council remains resolute in its commitment to price stability and will continue to take action as required to achieve the 2% inflation target.
The next scheduled date for announcing the overnight rate target is October 26, 2022. The Bank will publish its next full outlook for the economy and inflation, including risks to the projection, in the MPR at the same time.
-from the Bank of Canada
My wife and I were privileged to have enlisted Jane's services on our hunt for our current home. She respected our time and provided us with insightful data that positioned us well for a successful deal. Jane is a consummate professional who is thoughtful throughout the entire buying process. If you value your time and money, Jane is a great addition to the team.
We recently completed the Purchase of a new home followed by the Sale of our existing one and for both of those transactions, we worked with Jane. Our journey was long, given the Toronto Real Estate market as well as, with our intention to downsize, we looked to Buy first. Jane was an outstanding partner showing patience and perseverance. She was a tremendous help in understanding the market and as prices continued to rise in Toronto, helping us adjust expectations and options. After close to 3 years of searching, we found our perfect, long-term home. When it came to selling our house, Jane was amazing. Her advice on price, staging and preparing us and the house for sale worked very much to our advantage. We sold in 6 days for well over asking. We could not have asked for a better result and attribute a lot of that to Jane, her knowledge, experience and the work she put in. We would recommend Jane , 110% for anyone looking to Buy or Sell their home.
When it comes to real estate I genuinely think that Jane possesses a set of superpowers. I consider myself incredibly privileged to have had her expertise on my team. I encourage anyone to buy or sell property just so that they can experience the pleasure of working with Jane.
Above all else, Jane cares. When we set out to look for a home in Toronto, we weren’t looking for a fast deal and didn’t want to settle for something that was just good. We were looking for the perfect fit for our family. Jane understood that from the start and took the time and care to find us the right place. Her market expertise gave us the confidence to keep looking until we found the right deal, in our dream neighbourhood and importantly, at the right price. We couldn’t have done it without Jane’s support. If you want an agent who has your best interests at heart and the market knowledge to back it up - Jane is for you.
I am very grateful to have had Jane as a partner for the sale of my first property. Her industry expertise is palpable and she stays involved as a close collaborator through every step of the process. She is excellent at managing everything from expectations, properties and people. Highly recommend.
Jane is smart, honest and diligent. She knows the market incredibly well. We have friends who struggled with the limited listings and competition of multiple offers. Jane made a plan. When our future house came on the market we were ready. On offer night there were 10 other buyers. The negotiations went on for hours. In the end, to our relief and delight our offer was accepted. We have no doubt that our success is attributable to Jane's strategy, advocacy and candour. Thank you Jane for finding our home.
When I first met Jane I indicated that I wanted a stress free, smooth process with as few disruptions as possible. Her quiet, pleasant manner achieved this aim. At the same time it was necessary to deal with some renovations to my condo. It was not possible for me to be present, however, Jane handled all such matters on my behalf very professionally, resulting in a fast sale and an early completion
She took the time to fully understand our needs as first time home buyers and provided us with valuable insight about the market. Jane worked quickly which allowed us to view many properties in a short period of time. Thanks to Jane’s advice and experience, we were able to purchase our first home in an extremely competitive market.
One would expect the home buying process to be confusing and stressful, especially in Toronto's competitive market - but Jane's guidance made it an absolute joy. It was remarkably reassuring to know that I could genuinely trust her advice, and have my concerns heard and addressed. Her patience and expertise ultimately led me to secure my dream home!!
Jane helped me buy my first home, and I couldn’t be happier with her for it. She took the time to understand my needs and goals, and my limits, to find me the property I wanted. She’s been there for me with answers and support at every stage of the process, and her experience and knowledge of the market made the whole process straightforward and approachable
Jane is truly one of a kind! Being a first-time homebuyer is a daunting process, but there is no one else I would want on my team other than Jane! She is compassionate, knowledgeable, communicative, I could go on forever! Jane is the gold standard to which all realtors should hold themselves to.
A Converted Coach House - Now 4 Bedrooms with a Design-Forward Chef's Kitchen and Walkouts on Two Levels to the Enchanting City Garden. ...for the Buyer.
An Annex Classic. ...for the Buyer.
Sometimes a building offers a higher level of care - a star concierge, a better than most collection of amenities and a location that is the epitome of Toronto downtown. For a no-nonsense senior executive who makes great decisions- again and again ...for the Buyer
8 Green Acres - The 3 +1 bedroom home overlooks a rolling and wooded property, a new working barn with horse stalls, and a veranda from which to enjoy the view.
Good Bones. Good House. Just Wait!
An Original Leslieville 2 Bedroom Gem with Pretty Light and an Extra Large Fresh Kitchen For the Buyer and Later for the Seller
A Classic 4 bedroom home with a large yard. ...for the Buyer.
A "Little Black Dress of a House, on the deep lots of Sherwood. Like the frock worn from day to night; this house rolls from the days of children, pets and soccer to a turnkey retirement with easy dinner parties, overnight guests and extended travel where you lock it up and go...for the Buyer.
A Superb End of the Row Brick Two-Bedroom Townhouse on Three levels with a Built in Garage. Steps from Park and Shopping. ...for the Buyer
An Elegant 2 Bedroom 2 Bathroom Corner Suite in a Superb Quiet Enclave. ...for the Seller
Loft Minimalism Masterpiece - 857 sq ft, 16.5 ft ceilings. Renovated and Refined...for the Buyer.
An Oversized 1 Bedroom Corner Suite with light, storage and elegance in abundance. ...for the Seller
A Townhouse Duplex Where Coffered Ceilings, Marble Inlay and Craftsmanship is Undeniable. ...for the Buyer and Subsequently for the Landlord. A One Bedroom Upper on Two Floors with a Roof Top Deck, Expansive Closets, Stainless Appliances and Georgian Windows. A Two Bedroom Main Suite - on Two Floors with Garden, Stainless, Exposed Brick
A Sweet Fresh Renovated Two Bedroom with Spa Bath, a Large Garage and Lower Suite Potential. ...for the Buyer
A Wide Two Plus One Bedroom on Legendary Ivy Avenue. A Double Size Kitchen and Lower Level with Full Windows. ...for the Buyer
Classic City Scape View - Wrestled from the Developers Holdbacks this (at the time) Never-Listed 2 Bedroom 2 Bathroom, 2 Story Suite had 11 foot Windows and Expansive South View. ...for the Buyer
On the Waterfront - 1627 Sq Ft and 525 ft Terrace. Shimmering Water Views and Parks. Known as King's Landing this Boutique Building was designed by Arthur Erickson...for the Buyer
Great Value - A Three Bedroom Two Story Condo with Walkout. Fresh Bathroom and White Quartz Kitchen with New Lighting, Space and Style. ...for the Buyer
Quiet in the City -a stylish, remodelled, 3 bedroom 2 bathroom home with private garden and built-in garage. With a Jr Chef's Kitchen and fresh open living space - #144 is a prize ...for the Seller
Location Perfect for Boardwalk Lover, Fitness-Minded Buyer Updated with 2 Spa Bathrooms - Large Cooks' Kitchen - Fireplace and Dining Comfort ...for the Buyer
Suite of Views / Expansive by Day - Enchanting by Night ...for the Seller
Traditional on the outside this Seaton Village semi is fresh and filled with style. With a 2020 renovation it suits the modern family in sleek finishes, clever space solutions, and walkable city living. ....for the Buyer
Lots of Space for the Work-At-Home Lifestyle. With sun abundant corner exposure and oversized windows this 2 + Den, 2 Bath Suite has a large kitchen/living combination and is big enough that an executive couple can both talk on Zoom at the same time. ...for the Buyer
The Signature Suite Above the Rotunda. A Design Forward Renovation just Completed in this 2 +1 Bedroom, 2 Bathroom Split Plan with Gracious Foyer. The Chairman's 270 degree View of a Revived King Streetscape Captures the Imagination - Iconic Downtown Toronto...for the Buyer.
A Duplex of Dreams: proportion and design, thoughtfulness throughout. 3 Bedrooms, 2 Renovated Bathrooms, 2 Exceptional Kitchens and a Finished Basement. Charming Yard. Exceptional Laneway Double Garage with Loads of Possibility...for the Buyers
From the dancer swinging on this red silk to the art loving buyer, this loft offers something special to those wanting light, space and the moon for the imagination. In the heart of Kensington everything for the table is next door and around the corner...for the Buyer.
Sitting pretty in the tree lined streets just north of the booming Yonge/St Clair retail and condo developments, this large semi with rooftop views and transitional features with all day sunshine is a jewel. ...for the Seller
A retreat. A home. A long lake view. Summer. Winter. When a senior executive needs to be close to the city but with fish jumping, storm watching, star gazing possibilities. ...for the Buyer
With a wood burning fireplace, high ceilings, and a private green walkout this transitional styled suite is a dream-find for youthful Downsizers. Modern kitchens and baths compliment large traditional principal rooms. A gentile building culture and excellent management make exciting new adventure possible. ...for the Buyers.
With a deep green yard backing on to school yard fields, a private drive and garage, a front porch of old style grace, this three bedroom semi is all possibility. The Buyers expect years of happy times with family, friends and neighbours. Here come the renovations! ...for the Buyer
When an internationally travelling executive wants a no-nonsense quiet home life with the best in concierge assistance, a green view and elegant details.
A Two-Story Space Abundant 1 bedroom with A 2 Office Loft w Kitchenette. Perfect for an Executive Couple. Live at home and Go Across the Hall Up the Second Staircase to the Office. Come "home" from work at the End of the Day... for the Tenant.
A Dream Come True in Leaside...for the Tenant.
Time and Again 30 Roehampton is the Winner...for the Tenants
A Two Story See-for-Miles View...for the Tenant
It's All About the Stone Terrace....for the Tenant
When Tridel adds a spacious foyer to a 1 plus 1, the living experience is elevated...for the Tenant
When Priority is a Deep Green Yard...for the Tenant
With Rooftop Windows that could star in Every Opera Company's production of La Boheme - Romance and Mood Are in Abundance...for the Tenant
Time and Again - When Serenity, Green space and Location Come Together...for the Tenant,...for the Landlord....and etc.
Great Schools - Deep Yard - Abundance of Space...for the Tenants
I saw a Common Snapping Turtle attempting to lay her eggs on the Chorley Park hill in Rosedale. This week friends have sent me photos of turtles on bike paths. I’ve seen painted turtles on logs and a naturalist has reported to me he saw turtle eggs hatched on a big rock where those eggs […]Read More
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As a realtor I get to hear your thoughts. This is one of the more surprising benefits of daily life in real estate. It is the opportunity to learn what people are thinking. I’m referring to the ruminations that come with time spent together. These are the thoughts that bubble up on the spin bike […]Read More
Reflecting zeitgeist, the art world broadcasts and then leads us forward. Last year the Gucci turban of extraordinary colours encouraged us to create celebration where no other was found. It was a fascinating prescription for the time. While you cocoon: clash and create, they instructed. This year we are after the impact. We’ve matured into […]Read More
According to the State of Bookselling in Canada Survey 2020, 67% of bookstores reported an increase in new book sales for 2020 while 80% reported an increase in puzzle sales? Puzzles? This sounds like a clue. In the journal Frontiers in Aging Neuroscience puzzles are cited as decreasing stress and offering feelings of mastery, […]Read More
Shall we take a leaf from Gucci – abandon caution and redefine elegance, embrace clashing colours of too many hues, step out with enthusiasm and celebrate our emergence? When we burst out of our safety bubbles, some of us burdened with sorrow, others just burdened with larger waistlines let’s go forward boldly – […]Read More