A. Q.  Mufti

A. Q. Mufti

Sales Representative

RE/MAX Real Estate Centre Inc., Brokerage*

Email Me
A. Q.  Mufti

A. Q. Mufti

Sales Representative

RE/MAX Real Estate Centre Inc., Brokerage*

Email Me

Bank of Canada Holds Key Rate, Signals Shift in Monetary Policy - Impact on the Canadian Housing Market

In a highly anticipated move, the Bank of Canada (BoC) decided to maintain its benchmark interest rate at 5.0 per cent, marking the fourth consecutive hold and signaling a potential shift in its tightening cycle. This decision, though widely expected by economists, carries significant implications for the Canadian housing market.

Key Points:

  1. Peaking Tightening Cycle: The BoC's decision hints at a potential peak in its tightening cycle. Governor Tiff Macklem's prepared remarks reveal a shift in discussions from debating the sufficiency of interest rates to contemplating how long the central bank should maintain rates at the current levels.
  2. Rate Cut Speculations: Market watchers had started forecasting a timeline for rate cuts, with calls for easing expected between spring and summer of 2024. However, Macklem emphasized that rates could still rise further if inflation does not cooperate.
  3. Inflation Concerns: The central bank has been increasing borrowing costs since March 2022 to combat inflation. Although annual inflation rose to 3.4 per cent in December from 3.1 per cent the previous month, Macklem highlighted persistent inflationary pressures, stating that the higher rates need time to address these challenges.
  4. Economic Outlook: The BoC's Monetary Policy Report (MPR) suggests that the Canadian economy likely avoided a recession in 2023. Despite data showing a contraction in real gross domestic product in the third quarter, the central bank predicts flat economic growth in the final quarter, narrowly escaping a technical recession.
  5. Inflation Targets and Economic Growth: The MPR reaffirms the BoC's expectation that inflation will reach its two per cent target by 2025. However, Macklem cautions that future declines in inflation will be gradual and uneven, indicating a slow path back to the target. The report also highlights expectations of sluggish economic growth.

The BoC's decision to hold the key rate and the signals of a potential shift in monetary policy have notable implications for the Canadian housing market. As the central bank navigates the delicate balance between addressing inflation and supporting economic growth, stakeholders in the housing sector will be closely monitoring developments for potential impacts on borrowing costs, mortgage rates, and overall market dynamics.

If you have any questions or would like to discuss your individual needs and goals, feel free to reach out to me at 416-908-5600. I'm here to help you find the perfect tailor-made solution.

If you enjoyed this review, I'd be truly grateful if you could leave a gracious Google Review for my real estate services:  https://rem.ax/3PUNSOS

Thank you for your continued support!

A. Q. Mufti

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A glance at my achievements and passion;

  • Realtor
  • Former Member of Toronto Real Estate Board (TREB) Committee
  • Certified Project Management Professional (PMP)
  • Master Degree in Geography
  • Past Project Manager
  • Past IT consultant
  • Queen's Diamond Jubilee Medal
  • Gold Medal of Excellence for Human Rights
  • Community award for dedicated community services
  • Member of Mississauga mayor’s Diversity Advisory Committee
  • Chair - Family Day Walkathon, raising $250K for a local hospital
  • Member of Halton District School Board's Education Committee
  • Member of Halton Region Police MFST
  • Former Member of Peel Region Public School Council
  • Former Scouts Canada leader
  • Former Team Captain of Cancer Society’s Relay for Life
  • Former Board member of an international relief organization
  • Column writer
  • TV Panelist on current affairs

RE/MAX has more than 100,000 agents in more than 95 countries agents and sells more real estate than any other Canadian brand.

At RE/MAX Real Estate Centre Inc., I’m here to provide you, your family, and friends with exceptional services for your real estate needs including Residential, Commercial, and Agri/Farm Business.

RE/MAX Real Estate Centre Inc. operates out of 17 locations with approximately 920+ trained real estate professionals. 10,852 properties were sold and 105,144 appointments were scheduled in 2017 alone!

With my background in IT and Project Management and, over the several years, contributing to many charitable/not for profit organizations as a board member, I bring professionalism, ethics, sincerity, and I strive for excellence.

If you are looking for a new place to live or do business and want to sell and/or buy your next home and/or business, I would be delighted to help you achieve your goals.
I am not looking for short term gains, rather long term relationships, with the sole focus of finding solutions that best meet your needs.
I truly believe you are my best promoter when you tell others that you have received:

  •  My dedicated attention
  •  Best promotion
  •  Strong negotiation skills
  •  Taking care of critical facts
  •  Eye on items normally ignored
  •  Awareness of Market Trends
  •  Open discussion of the pros and cons

I am available during weekdays and weekends and would meet or pick up the phone personally or return your call at a time convenient for you.

You may reach me directly by calling 416-908-5600 or send me an email at your convenience at info@aqmufti.com.

I look forward to hearing from you soon.

Wishing you and your family all the fun and enjoyment.

Designation: Realtor, MSc, PMP, ABR, SRS, CNE

Education: MSc

Specialty: Buy, Sell, and Rent Residential, Commercial, and Agricultural Properties

Awards: Certified Project Management Professional(PMP), Master Degree in Geography, Past IT consultant, Project Manager, Queen's Diamond Jubilee Medal Gold Medal of Excellence for Human Rights, Community award for dedicated community services Award, Member of TREB Members Communications Committee, Member of Mississauga mayor’s Diversity Advisory Committee, Former Scouts Canada leader, Former Team Captain of Cancer Society’s Relay for Life, Member of Halton Region Equity and Inclusive Education Committee

Area Covered: GTA and beyond including Waterloo, London, Oxford, Woodstock, Niagara, Thorold

Languages Spoken: Arabic, English, Hindi, Punjabi, Urdu

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