BoC Declines to Use Interest Rates to Tackle Housing Affordability

The Bank of Canada's Senior Deputy Governor Carolyn Rogers stated that the central bank is limited in its ability to directly address home prices through interest rates. According to Rogers, the housing market should remain an input and not a target of interest rate decisions.

In a recent speech in Victoria, British Columbia, Rogers emphasized the importance of low, stable, and predictable inflation as a solution to the country's housing affordability problems.