Sunday, September 8, 2013
Bank of Canada should hike rates if worried about housing: Scotiabank
Bank of Nova Scotia’s chief executive officer Rick Waugh said the Bank of Canada should raise its rates if the central lender is concerned that housing prices are rising too quickly.
Mr. Waugh stressed that higher rates would be the most effective way to tame housing prices now that regulators have reined in mortgage amortization periods and taken other steps to prevent a property market bubble. Scotiabank’s leader added that he doesn’t see a hard landing for real estate.