Bank of Canada's shock rate hike comes with 'significant risks,' economists warn — via financialpost ratehike inflation economy BoC
last week as front loading that historically has raised the chance of a soft landing for the economy.
“A soft landing here is a bit like trying to parallel park a car at 60 miles an hour,” Mark Wiseman, chair of Alberta Investment Management Corp., said on BNN Bloomberg Television. “You have to be not just a skilled driver, but an extremely skilled driver and a little bit lucky.” This would reduce the buying power of the median income household from just above $700,000 to $500,000 — not a lot when the benchmark home price in June was $807,000, he said.
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