Canada Regulator Eyes Tougher Mortgage Rules Amid Bubble Fears
Theophilos Argitis, Bloomberg News A For Sale sign in front of a home in the York neighborhood of Toronto, Ontario, Canada, on Thursday, March 11, 2021. The buying, selling and building of homes in Canada takes up a larger share of the economy than it does in any other developed country in the world, according to the Bank of International Settlements, and also soaks up a larger share of investment capital than in any of Canadaâs peers. Photographer: Cole Burston/Bloomberg , Bloomberg
(Bloomberg) Canadaâs bank regulator is proposing to tighten mortgage qualification rules to make it more difficult for home buyers to secure financing, a move aimed at easing financial stability risks stemming from a booming real estate market.
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C$ clings to Wednesday s rally, underpinned by BoC s hawkish shift
04/22/2021 | 04:35pm EDT
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TORONTO (Reuters) -The Canadian dollar was little changed against its U.S. counterpart on Thursday as a decline in risk appetite was offset by the Bank of Canada s more hawkish stance, with the currency holding on to its gains from the prior day.
The loonie was trading nearly unchanged at 1.2500 to the greenback, or 80.00 U.S. cents, having traded in a range of 1.2472 to 1.2534.
It was one of only three G10 currencies to keep pace with the U.S. dollar as U.S. stocks dived on reports that President Joe Biden planned to propose nearly doubling the capital gains tax.