“The governor of the Bank of Canada is sending a strong message to the markets: You do your job and we will do ours.
Stephen Poloz has been dogged by the perception that he has been attempting to “talk down the dollar” — essentially to help encourage business investment and expand export markets — as the economy struggles to regain its initial post-recession traction.
On Tuesday, Mr. Poloz attempted to set the markets straight, saying it is not up to his policymakers to determine currency levels. To do so, he said, would be to court economic “havoc.”
– Financial Post, 16 Sep 2014
“Creating havoc with perversely subterranean interest rates, on the other hand, is completely within our mandate…”
“..new condos in [Toronto] and [Vancouver] routinely cost $700 a foot, while whole houses in the US average less than $100 for the same foot.”
– Just one of many reasons listed by Garth Turner in answer to the rhetorical question ‘How to tell when housing boom’s running on fumes?’, Greaterfool.ca, 14 Sept 2014
“British Columbia’s housing market is still red hot this year but declining affordability could slow it down by 2015, according to the Canadian Real Estate Association. …
The average price for a home is expected to rise by about six per cent in B.C. in 2014, but … the CREA is forecasting B.C.’s average real estate prices to rise by less than one per cent in 2015.”
– Vancouver Sun, 15 Sep 2014