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Dollar touches fresh 20-year high

Dollar touches fresh 20-year high
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BoC's rate messaging partly to blame for hot housing: Scotia's Holt


BoC s rate messaging partly to blame for hot housing: Scotia s Holt
Ian Vandaelle, BNN Bloomberg
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Scotiabank Head of Capital Markets Economics Derek Holt doesn’t 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.
“I wouldn’t 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,” he said.  ....

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Bank of Canada on guard as Bay Street warns of housing bubble