27 June 2018

Now, the Bank analyzes (at an individual level) how new lending rules are influencing the real estate market. Moreover, in his opinion, mortgage renewals will also be one of the main issues.

“We expect those questions to figure prominently in our upcoming discussions,” – Poloz noted.

As you know, Poloz has raised the rate three times since July, reacting to a strong economic performance, which has started at the end of 2016.

Meanwhile, the rate has remained at 1.25% since January, as the BoC sticks to its cautious pace and attempts to determine the best time for the next increase.

He also focused on the Bank’s efforts to provide more transparency on its monetary policy decisions and to make economic issues more understandable for the public.

“We have to to make sure that when we want to say something, people don’t need a degree in economics to understand us,” – he added.