Horgan Talks Housing Affordability

The need for housing, and how that ties into traffic gridlock, was one of the main issues raised in discussions on “affordability” Wednesday as B.C. Premier John Horgan paid a visit to North Vancouver.Horgan stopped for lunch with kids at Novaco Child Care – one of the locations where the government’s $10-a-day child-care program is being piloted – before sitting down to chat with members of the Persian community at a Lonsdale-area cafe.

Continue reading

Bank of Canada Holding Rates Steady

Canada’s central bank has decided to keep its benchmark interest rate at 1.75 per cent, and says the timing of possible future hikes has become increasingly uncertain.The Bank of Canada says the economic slowdown that began at the end of last year is a bit worse than it was expecting, including a sharper-than-anticipated slowdown in Canada’s oil patch.

The bank also singled out softness in the housing market and consumer spending as reasons for a gloomier outlook.”It is clear that global economic prospects would be buoyed by the resolution of trade conflicts,” the bank said.”With increased uncertainty about the timing of future rate increases, [the bank] will be watching closely developments in household spending, oil markets, and global trade policy. “

Continue reading