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Bank of Canada Governor Isn’t Worried About a Housing Bubble

  • Hot market is different from the one in 2017, Macklem says
  • Central banker speaks in interview with Bloomberg News

Canada’s top central banker isn’t worried about the country’s hot housing market, saying low interest rates and demand for space rather than speculation are behind the price gains.

Accommodative monetary policy, a preference for more living area and the ability to work from home during the pandemic are the main reasons demand for single-family homes across the country has been so robust, Tiff Macklem said Wednesday in an interview with Bloomberg News.