March 18, 2015 / 4:59 PM / in 4 years

Canada's Harper sees no immediate action on housing

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

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

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