Bank of Canada Sees Gradual Pace of Rate Cuts to Balance Risks
Bank of Canada officials said monetary policy easing is expected to be “gradual,” as they debate the timing of a pivot to rate cuts.
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Bank of Canada officials said monetary policy easing is expected to be “gradual,” as they debate the timing of a pivot to rate cuts.
Iceland’s inflation eased to the slowest pace in more than two years, suggesting its central bank is more likely to begin reducing the western Europe’s highest interest rate in the coming months.
The UK housing market recovery is threatened by investors scaling back bets on how far the Bank of England will cut interest rates, according to a new report.
US mortgage rates increased to the highest level in five months, pushing down home-purchase applications for the fifth time in the last six weeks.
The daughter of a Chinese nickel billionaire purchased a multimillion-dollar mansion in Singapore, adding to the list of wealthy people seizing buying opportunities during the market lull.
Jul 16, 2019
Bloomberg News
,(Bloomberg) -- Sentiment among U.S. homebuilders crept higher in July after falling the previous month, indicating lower mortgage rates are helping shore up demand.
The National Association of Home Builders/Wells Fargo Housing Market Index rose one point to 65 this month, according to a report Tuesday. Economists in a Bloomberg survey projected the gauge would hold at 64.
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“Builders report solid demand for single-family homes,” said Greg Ugalde, NAHB Chairman and a builder and developer from Torrington, Connecticut. “However, they continue to grapple with labor shortages, a dearth of buildable lots and rising construction costs that are making it increasingly challenging to build homes at affordable price points relative to buyer incomes.”
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To contact the reporter on this story: Ryan Haar in Washington at rhaar3@bloomberg.net
To contact the editors responsible for this story: Scott Lanman at slanman@bloomberg.net, Vince Golle, Margaret Collins
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