20 June 2019

“In case the rate cut is caused by the necessity to stimulate fundamental economic growth, it’s quite reasonable, as we don’t want to move towards a zero-growth world,” – White said.

“Nevertheless, if the unintended consequences will lead to asset bubbles in certain sectors, e.g. real estate, then it’s a reason to worry”.

White believes the national real estate market is in a better state today than at the beginning of the previous year. In April, he said there was certain moderation in Canadian consumer loan and mortgage business, which was healthy and expected.

“We’ll see changes in various markets over time, but the fundamental of supply and demand driving the stable market, is much better currently than a year and a half ago when we needed the government intervention for stabilizing the market”, – he added.

“We’re always concerned about the real markets, but today we’re in a better state than at that time.”