The Bank of Canada has announced a reduction in its monetary policy, specifically lowering interest rates, following a period of slower-than-expected housing market activity. Recent months have witnessed a gradual increase in months-over-total sales, a trend influenced by ongoing uncertainty surrounding US tariffs and broader economic conditions. The decision to adjust rates aims to bolster economic growth and address potential challenges facing the housing sector. Analysts suggest this action may provide some breathing room to the market, though continued monitoring of economic indicators is expected.
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