March 31, 2017 / 3:49 PM / a year ago

Bank of Canada head says low rates not fuelling housing speculation -report

OTTAWA, March 31 (Reuters) - Canada’s low interest rates are not fuelling speculation in the country’s housing market, Bank of Canada Governor Stephen Poloz said in an interview with local media published on Friday.

In an interview with Macleans magazine, Poloz said the acceleration in home prices in Vancouver and Toronto suggests some of that has been driven by “extrapolated expectations”, though he also pointed to strong labor markets and supply constraints in both cities.

Reporting by Leah Schnurr

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