Canada's Harper sees no immediate action on housing

Wed Mar 18, 2015 12:55pm EDT
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MISSISSAUGA, Ontario (Reuters) - The Canadian government is not planning on taking any immediate action to try to rein in the country's robust housing market, Prime Minister Stephen Harper said on Wednesday.

Canada's financial institutions remain very well capitalized, while default rates are extremely low, Harper said.

"I'm not saying I'm unconcerned but we are watching it. We're not planning to take any immediate action," he said.

(Reporting by Euan Rocha, writing by Leah Schnurr)

Canada's Prime Minister Stephen Harper speaks at the Saskatchewan Association of Rural Municipalities in Saskatoon, Saskatchewan March 12, 2015. REUTERS/David Stobbe