The Bank of Canada today held its target for the overnight rate at 5%, with the Bank Rate at 5¼% and the deposit rate at 5%. The Bank is continuing its policy of quantitative tightening. The Bank expects the global economy to continue growing at a rate of about 3%, with inflation in most advanced economies easing gradually. The US economy has again proven stronger than anticipated, buoyed by resilient consumption and robust business and government spending. US GDP growth is expected to slow in the second half of this year, but remain stronger than forecast in January. The euro area is projected to gradually recover from current weak growth. Global oil prices have moved up, averaging about $5 higher than assumed in the January Monetary Policy Report (MPR). Since January, bond yields have increased but, with narrower corporate credit spreads and sharply higher equity markets, overall financial conditions have eased. The Bank has revised up its forecast for global GDP growth to 2¾% in 2024 and about 3% in 2025 and 2026. Inflation continues to slow across most advanced economies, although progress will likely be bumpy. Inflation rates are projected to reach central bank targets in 2025. In Canada, economic growth stalled in the second half of last year and the economy moved into excess supply. A broad range of indicators suggest that labour market conditions continue to ease. Employment has been growing more slowly than the working-age population and the unemployment rate has risen gradually, reaching 6.1% in March. There are some recent signs that wage pressures are moderating. Economic growth is forecast to pick up in 2024. This largely reflects both strong population growth and a recovery in spending by households. Residential investment is strengthening, responding to continued robust demand for housing. The contribution to growth from spending by governments has also increased. Business investment is projected to recover gradually after considerable weakness in the second half of last year. The Bank expects exports to continue to grow solidly through 2024. Overall, the Bank forecasts GDP growth of 1.5% in 2024, 2.2% in 2025, and 1.9% in 2026. The strengthening economy will gradually absorb excess supply through 2025 and into 2026. CPI inflation slowed to 2.8% in February, with easing in price pressures becoming more broad-based across goods and services. However, shelter price inflation is still very elevated, driven by growth in rent and mortgage interest costs. Core measures of inflation, which had been running around 3½%, slowed to just over 3% in February, and 3-month annualized rates are suggesting downward momentum. The Bank expects CPI inflation to be close to 3% during the first half of this year, move below 2½% in the second half, and reach the 2% inflation target in 2025. Based on the outlook, Governing Council decided to hold the policy rate at 5% and to continue to normalize the Bank’s balance sheet. While inflation is still too high and risks remain, CPI and core inflation have eased further in recent months. The Council will be looking for evidence that this downward momentum is sustained. Governing Council is particularly watching the evolution of core inflation, and continues to focus on the balance between demand and supply in the economy, inflation expectations, wage growth, and corporate pricing behaviour. The Bank remains resolute in its commitment to restoring price stability for Canadians.

Are you considering the vibrant and urban lifestyle that comes with condo living in Vancouver, British Columbia? The city's skyline is dotted with sleek high-rises, offering an enticing array of options for potential buyers. However, before you take the plunge into condominium ownership, it's crucial to understand the intricacies of Vancouver's real estate market and the unique aspects of strata living. Continue reading below to familiarize yourself with a few key notes to consider.   Understanding Strata Regulations: In Vancouver, condominiums operate under strata corporations, and it's imperative to familiarize yourself with the associated regulations. Strata bylaws govern everything from pet ownership and rental restrictions to noise policies and common area usage. Before committing to a purchase, thoroughly review the strata documents to ensure they align with your lifestyle and preferences. A diligent examination of these regulations will prevent unexpected surprises down the road. Additionally, it's important to work with a trusted Real Estate Advisor who may have additional info to offer.   Navigating Strata Fees: Strata fees are a common concern for condo buyers, covering maintenance, amenities, and other shared expenses. When evaluating a condominium investment, consider not only the current strata fees but also potential future increases. Assess what amenities are included, such as a gym or concierge services, and determine if the fees are reasonable in relation to the services provided. A well-managed strata will transparently communicate any upcoming maintenance projects or fee adjustments, ensuring you are financially prepared.   Tips for Evaluating Condo Investments:  To make a sound investment, research the building's history, management reputation, and any major repairs or pending renovations. Pay attention to the depreciation report, as it outlines the expected lifespan of key building components. Engage with current residents to gain insights into the community dynamics and the effectiveness of the strata council. Finally, work with a knowledgeable real estate advisor who is experienced in Vancouver's condominium market to guide you through the process and provide valuable advice tailored to your needs.    Condo living in Vancouver can offer a convenient and luxurious lifestyle, but thorough research and understanding of strata regulations are key to a successful investment. Take the time to assess your priorities, budget, and long-term goals, ensuring that your condo purchase aligns seamlessly with your lifestyle in this dynamic and bustling city.   Feel free to reach to us if you have any questions on this topic as we would be more than happy to help out.       

The holiday season is upon us, and there's no better way to embrace the festive spirit than by transforming your home into a winter wonderland. Start by focusing on the heart of holiday décor—the Christmas tree. Choose a theme that resonates with your style, whether it's a classic red and green palette or a modern winter wonderland with silver and blue. Adorn the tree with a mix of cherished ornaments, twinkling lights, and a show-stopping tree topper. Consider incorporating personal touches like handmade ornaments or sentimental decorations to add a touch of warmth and nostalgia. Extend the festive atmosphere beyond the tree by decking the halls with garlands, wreaths, and festive accents. A well-placed wreath on the front door sets the tone for holiday cheer, while garlands draped along banisters and mantels create a cohesive and inviting look. Don't forget the power of scents to enhance the holiday ambiance. Light scented candles or diffuse essential oils with fragrances like cinnamon, pine, or vanilla to fill your home with the comforting and familiar scents of the season. Layering cozy blankets and festive throw pillows in living spaces can also add a touch of warmth and comfort, inviting friends and family to gather and create lasting holiday memories. Prepare your home for holiday gatherings by organizing and decluttering. Clearing space in the living and dining areas ensures that your guests can move freely and comfortably enjoy the festive atmosphere. Consider creating a dedicated space for holiday treats and beverages, turning your kitchen into a festive focal point. Set a welcoming table with holiday-themed tableware and centerpieces, adding a touch of elegance to your dining experience. For a finishing touch, curate a playlist of your favorite holiday tunes to fill your home with the joyful sounds of the season. As you decorate and prepare your home for the Christmas holidays, remember that the most important element is the joy and warmth you bring to the space. Whether you opt for a traditional, cozy Christmas look or a more modern and chic aesthetic, infuse your home with love and creativity. After all, the magic of the holidays lies in the shared moments and cherished traditions that make your home truly festive and welcoming.

Horseshoe Bay, nestled along the rugged coastline of West Vancouver, is a picturesque village renowned for its stunning natural beauty and maritime charm. Serving as a major transportation hub, the bay is a gateway to the scenic Howe Sound, connecting travelers to popular destinations like Bowen Island and Nanaimo on Vancouver Island. The waterfront area is dotted with quaint shops, seafood restaurants, and a bustling marina, creating a vibrant atmosphere for both locals and visitors. With its breathtaking views of the surrounding mountains and serene waters, Horseshoe Bay offers a tranquil escape just a short drive from the bustling city of Vancouver. We’ve compiled a list of some of our favourite attractions in Horseshoe Bay below.   1️⃣ Gleneagles Golf Course: A popular golf course that features an 9 hole, par-35 layout that spans through beautiful terrain with panoramic views of ocean and mountains. A great way the spend the afternoon with friends or get a great lesson in.   2️⃣ Orchard Restaurant: Located in the Gleneagles clubhouse, Orchard offers casual dining with an elevated country fair. Stop by for breakfast, lunch or dinner!   3️⃣ Whytecliff Park: A popular destination that attracts people from everywhere! Tons of hiking trails that offer insane views. Great for bird watching, hitting the sand and pebble beach, picnics and even scuba diving.   4️⃣ Horseshoe Bay Park: Bordered by Sewell's Marina and the public pier to the north, the newly revitalized Horseshoe Bay park features a new playground, shoreline lookout structures, stairs connecting the park to the beach and waters. Perfect for family outings and a great addition to the community.   5️⃣ Ferry Terminal: Horseshoe Bay is home to a major ferry terminal that provides easy access to popular destinations such as Nanaimo and Victoria. Planning the perfect long weekend getaway has never been easier or more convenient! Horseshoe Bay stands as a gem on the West Vancouver coastline, captivating all who visit with its natural splendor and maritime allure. Whether one is drawn to the bustling ferry terminal, the charming waterfront shops, or the breathtaking views of Howe Sound, Horseshoe Bay offers a diverse range of experiences for locals and tourists alike. Its seamless blend of convenience, picturesque surroundings, and a vibrant community make it a destination that continues to enchant and beckon visitors to explore the beauty of British Columbia's coastal landscapes.

Bank of Canada maintains policy rate, continues quantitative tightening. The Bank of Canada today held its target for the overnight rate at 5%, with the Bank Rate at 5¼% and the deposit rate at 5%. The Bank is continuing its policy of quantitative tightening. The global economy is slowing and growth is forecast to moderate further as past increases in policy rates and the recent surge in global bond yields weigh on demand. The Bank projects global GDP growth of 2.9% this year, 2.3% in 2024 and 2.6% in 2025. While this global growth outlook is little changed from the July Monetary Policy Report (MPR), the composition has shifted, with the US economy proving stronger and economic activity in China weaker than expected. Growth in the euro area has slowed further. Inflation has been easing in most economies, as supply bottlenecks resolve and weaker demand relieves price pressures. However, with underlying inflation persisting, central banks continue to be vigilant. Oil prices are higher than was assumed in July, and the war in Israel and Gaza is a new source of geopolitical uncertainty. In Canada, there is growing evidence that past interest rate increases are dampening economic activity and relieving price pressures. Consumption has been subdued, with softer demand for housing, durable goods and many services. Weaker demand and higher borrowing costs are weighing on business investment. The surge in Canada’s population is easing labour market pressures in some sectors while adding to housing demand and consumption. In the labour market, recent job gains have been below labour force growth and job vacancies have continued to ease. However, the labour market remains on the tight side and wage pressures persist. Overall, a range of indicators suggest that supply and demand in the economy are now approaching balance. After averaging 1% over the past year, economic growth is expected to continue to be weak for the next year before increasing in late 2024 and through 2025. The near-term weakness in growth reflects both the broadening impact of past increases in interest rates and slower foreign demand. The subsequent pickup is driven by household spending as well as stronger exports and business investment in response to improving foreign demand. Spending by governments contributes materially to growth over the forecast horizon. Overall, the Bank expects the Canadian economy to grow by 1.2% this year, 0.9% in 2024 and 2.5% in 2025. CPI inflation has been volatile in recent months—2.8% in June, 4.0% in August, and 3.8% in September. Higher interest rates are moderating inflation in many goods that people buy on credit, and this is spreading to services. Food inflation is easing from very high rates. However, in addition to elevated mortgage interest costs, inflation in rent and other housing costs remains high. Near-term inflation expectations and corporate pricing behaviour are normalizing only gradually, and wages are still growing around 4% to 5%. The Bank’s preferred measures of core inflation show little downward momentum. In the Bank’s October projection, CPI inflation is expected to average about 3½% through the middle of next year before gradually easing to 2% in 2025. Inflation returns to target about the same time as in the July projection, but the near-term path is higher because of energy prices and ongoing persistence in core inflation. With clearer signs that monetary policy is moderating spending and relieving price pressures, Governing Council decided to hold the policy rate at 5% and to continue to normalize the Bank’s balance sheet. However, Governing Council is concerned that progress towards price stability is slow and inflationary risks have increased, and is prepared to raise the policy rate further if needed. Governing Council wants to see downward momentum in core inflation, and continues to be focused on the balance between demand and supply in the economy, inflation expectations, wage growth and corporate pricing behaviour. The Bank remains resolute in its commitment to restoring price stability for Canadians.