Bank of Canada governor wants to avoid housing policy mistakes of the past

Author: External Author | | Categories: First Time Home Buyer Mortgage , Mortgage Broker , Mortgage Rates

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The Bank of Canada takes a lot of heat over this country’s various housing bubbles.

Former governor Mark Carney definitely lit the match back in 2009 by dropping the benchmark interest rate to almost zero and leaving it there for a year. It was intentional. Starting a fire in the housing market was a big part of the plan to beat the Great Recession, just as it’s a key element of the central bank’s current strategy to reverse the economic effects of the COVID-19 crisis.

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Original Article Source Credits:   Financial Post , https://financialpost.com/

Article Written By:  Kevin Carmichael

Original Article Posted on:  Dec 18, 2020

Link to Original Article:  https://financialpost.com/news/economy/bank-of-canada-governor-wants-to-avoid-housing-policy-mistakes-of-the-past



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