The Bank of Canada says the downgrades were a result of slower near-term housing resale activity following the government’s new measures to promote housing market stability, which are likely to restrain residential investment while dampening household vulnerabilities. Photo: Shutterstock

Bank of Canada maintains overnight rate but downgrades outlook

Forecasted growth now 1.1 per cent, down 0.2 per cent from July

Topic |   Business in Vancouver

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The Bank of Canada says the downgrades were a result of slower near-term housing resale activity following the government’s new measures to promote housing market stability, which are likely to restrain residential investment while dampening household vulnerabilities. Photo: Shutterstock
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