April 6, 2017 / 1:47 PM / a year ago

RBC CEO warns overheating housing markets could hamper economic growth

TORONTO, April 6 (Reuters) - Royal Bank of Canada’s Chief Executive Dave McKay on Thursday warned overheating housing markets could inhibit Canada’s economic growth and urged the federal and provincial governments to work together to address the issue.

“Any single solution is unlikely to be successful on its own,” McKay told the bank’s annual meeting.

“A complex problem like this requires a multi-faceted solution, which addresses supply constraints and speculative forces and is mindful of the rate environment, which can be a moderating force. (Reporting by Matt Scuffham; Editing by Chizu Nomiyama)

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