Happy Lunar New Year! Wishing everyone great health, happiness, love, joy, peace and a very prosperous New Year!
The Year of the Snake represents a year of transformation, wisdom and growth – shedding of the past, and a year of revival and renewal!
Concurrently today, the Bank of Canada trimmed it's policy rate down by 25bps, to now 3.0% (from 3.25%) as the sixth consecutive reduction since June.
We're now seeing inflation rate steady around 2%, where the BoC has targeted for the past few years.
However, the looming U.S. tariffs remain a material concern for the future of our country, noted Macklem.
The BoC can only do so much for the economy if we end up in a trade war, but what the tariffs are, how long they could last, the impact of them are still yet to be determined. If tariffs are imposed, we could see upward pressure on inflation, again... potentially leading to more rate cuts to spur economic activity (per Doug Porter, BMO Chief Economist).
As it relates to what it means for Calgary, specifically – who knows. We don't have a crystal ball, but we do what we can given the current circumstance and experience. Like we've said many times, you cannot time the market, but the only thing that matters is time spent in the market for real estate.
We'll see how things unfold over the next few weeks, but as always, I'll keep you tuned in and updated!