Bank of Canada Governor Mark Carney says he would intervene if housing debt got out of hand:
“In exceptional circumstances, if there are issues that threaten financial stability, such as household debt … the bank could use monetary policy for that purpose,” he said. “That factors into our decision-making without question.”
Separately, he said high oil prices aren’t bringing the usual benefits:
“We’re getting at the moment a little less of a positive uplift from higher oil prices than we would normally. And we’re getting that drag on consumption from higher gas prices.”
