Desjardins is forecasting the average home price in Canada will decline by nearly 25% by the end of 2023 from the peak reached in February of this year.
We’ve been wondering how major Canadian retail companies would fare after Walmart and a long list of other U.S. retailers got walloped in recent weeks amid warnings about inflationary pressures and inventory woes, among other headaches.
Slowing U.S. inflation is prompting traders to pare bets for a 75-basis-point increase in interest rates from the Bank of Canada next month.
U.S. inflation decelerated in July by more than expected, reflecting lower energy prices, which may take some pressure off the Federal Reserve to continue aggressively hiking interest rates.
U.S. inflation fell more than expected last month. The July consumer price index landed at 8.5 per cent, down from the 20.5-year high of 9.1 per cent in June.
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