The Globe and Mail sat down with Mr. Macklem to ask about rate cuts, a possible divergence between the Bank of Canada and the U.S. Federal Reserve, government spending and why central bank officials are sounding the alarm about Canadian productivity
Nearly 60 per cent of Canadians believe Ottawa should balance the budget though many are ready to run bigger deficits so long as the extra money is spent on housing.
Short-term rental managers are lamenting the demise of their business model, while real estate agents say investment properties owners are being forced to sell at a loss.
Premier David Eby says the government has now provided regulations and policy manuals to local governments to work with developers on housing projects.
The composite benchmark home price in November for Metro Vancouver was $1,185,100, a 4.9 per cent increase from November 2022 and a one per cent decrease from October 2023.