Plus, a converted church near Toronto’s High Park and a floating house in Vancouver’s marina
Bank of Canada raises interest rate by a quarter percentage pointby a quarter percentage point on Wednesday, restarting its campaign to tighten monetary policy
after it paused in January. The move is in response to stubborn inflation and surprising resilience in the Canadian economy, reports Mark Rendell. Canada’s policy rate is now at its highest level since 2001.The central bank’s decision to increase its trend-setting rate to 4.75 per cent will, writes Erica Alini. It will likely drive an uptick in consumer delinquencies and weigh on a recent rebound in home prices, experts say.
, writes Kerry Gold. Jen Abrams has lived for seven years in a 978-square-foot float house called the Lilypad, moored at Richmond Marina and walking distance to the SkyTrain station, which brings her downtown in 15 minutes. The Lilypad, one of three dozen float homes in the marina, is two floors, with kitchen, laundry room, dining and living rooms, one bedroom and den, patios, garden, storage and light filled rooms.
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