Summary
- Ontario housing minister Paul Calandra expressed confidence in the Bank of Canada’s interest rate cut to spur housing development.
- Lower interest rates are expected to attract more builders and buyers to the market.
- The province aims to build 1.5 million new homes by 2031, facing challenges such as high interest rates and market conditions.
- Bank of Canada governor hinted at possible further cuts to the policy interest rate if inflation continues to ease.
