Bank of Canada Won't Use Interest Rates to Tackle House Prices

The Bank of Canada's senior deputy governor has stated that interest rates won't be used to target house prices. Carolyn Rogers made this announcement in a speech in Victoria, British Columbia. According to Rogers, the central bank is limited in what it can do to address home prices and should focus on keeping inflation low, stable, and predictable.

Rogers emphasized that housing affordability problems are not directly related to monetary policy decisions. Instead, she suggested that addressing these issues would require a more comprehensive approach involving multiple stakeholders.