‘It seems unrealistic at this point for the BoC to cut in June’: Scotiabank’s chief economist on where rates, the economy and housing prices are heading

News Snapshot:

It’s been just over two years since the Bank of Canada began its aggressive tightening policy in March of 2022. With the Bank of Canada anticipated to soon pivot and start cutting the overnight rate, hopes and signs of an economic rebound are growing. In fact, in its April Monetary Policy Report, the bank lifted its real GDP growth forecast for 2024 to 1.5 per cent, from its prior estimate of 0.8 per cent, supported by a strong January GDP reading Ahead of next week’s release of the February GDP data, The Globe and Mail spoke with Scotiabank’s chief economist...