As I wrote a Blog couple days ago about the Real Estate Market Surrey Bc In 2019 about having one interest rate hike in 2019 as economy is looming, cause the price of Canadian oil known as Western Canada Select briefly dipped below $15 a barrel last fall. Today CBC wrote an article Expecting higher rates in 2019? Don’t bet on it just yet . It`s a must read for all to see what`s happening in 2019 with economy and interest rate hike`s. As of today it will be hard to predict which way Bank of Canada is heading but number`s don’t lie and looks like with economy slowing down, there might be no interest rate hike in 2019 if not a cut in interest rate.
Some economist were still predicting interest rate hikes in 2019 some weeks ago, But that scenario is changing which might move into a interest rate cut predicted by some economists. Some statements made are as follow :-
“At present, there is not a single hike priced for 2019.” Say`s Pollick.
By Pollick’s math, there’s only about a 40 per cent chance of any sort of rate hike this year, and some in the market think a cut is on the table. Ian Pollick is head of North American rates strategy with CIBC.
Stephen Brown at Capital Economics predicts the slump in the world price of oil could be enough to take the wind out of Canada’s economic sails, slowing GDP growth to just 1.5 per cent this year. “We would not be surprised if the Bank of Canada continues to argue that it needs to raise interest rates,” he said. “But as it becomes clear that the economy is performing worse than the bank anticipated, we expect the bank to drop this line and ultimately cut interest rates at the tail end of this year.”
As a Experienced Realtor in Surrey for years it might change the current Real Estate Market Conditions, which will be determined in coming month`s with the decision Bank of Canada makes. Your suggestions are very important to me as a writer to improve my writing skills. I am a novice writer who likes to write about current market conditions and important issues that needs to be discussed for better daily life improvements. Signing off for today, Jashan Grewal Your Neighbourhood Realtor.