BoC s rate messaging partly to blame for hot housing: Scotia s Holt
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Scotiabank Head of Capital Markets Economics Derek Holt doesnât think the Bank of Canada should be able to wash its hands of responsibility for the massive run-up in residential real estate prices.
In a television interview Tuesday, Holt said the Canadian central bank should take some ownership for the surge in home prices it helped foster with its rock-bottom interest rate policies and continued messaging that its rate regime will be in place for the medium-term.
âI wouldnât fault them for having policy interest rates that are essentially zero now, because we still have about 600,000 unemployed Canadians who had a job before the pandemic, and we still have inflation below their target,â he said.
Bank of Canada s rate messaging partly to blame for hot housing: Scotia s Holt
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Bank of Canada on guard as Bay Street warns of housing bubble
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Bank of Canada on guard as Bay Street warns of housing bubble
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