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Bank of Canada raises key interest rate to 5%

For the first time since April 2001 that Bank of Canada target overnight rate hit 5%. This represents the 10th rate hike by the central bank since March 2022. In justifying the 25 bps increase the Bank of Canada cited robust demand and tight labour markets resulting in persistently high inflation.

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Record high rental rates

According to the National Rent Report (Rentals.ca, Urbanation, July 2023) the average asking rent in Canada reached a new peak of $2,078 representing a significant 8.9% annual rise. The increase is th

Canada's National Housing Strategy Act (2019)

Link to document Housing Policy Declaration Declaration 4) It is declared to be the housing policy of the Government of Canada to (a) recognize that the right to adequate housing is a fundamental huma

The Affordable Housing Crisis in Canada

Statistics Canada: Core housing need in Canada (September 21, 2022) Link to article Individuals and families in Core Housing Need live in unsuitable, inadequate, or unaffordable housing and are unable

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