08/21/2013 12:27 EDT | Updated 10/21/2013 05:12 EDT

No Plans To Intervene In Housing Market, Flaherty says

Finance Minister Jim Flaherty said today he is satisfied with the measures his government has already taken to calm the housing market and he has "no plans" to intervene any further.

Flaherty said the government watches the housing and condo market closely and noted in the last five years he has taken steps, including changes to mortgage lending rules, to deal with a hot housing market. But, he said, "there are no plans presently to intervene further."

Flaherty was asked about the housing market and a range of other issues when he spoke to reporters Wednesday ahead of his annual summer policy retreat in Wakefield, Que., across the river from Ottawa.

Flaherty hosts an invited group of experts and representatives every summer to discuss what governments as well as the private sector can do in response to current economic challenges. The retreat feeds into preparations for the government's fall economic statement. This is his seventh summer meeting.

One of the questions Flaherty and his guests may discuss is the future of stimulus measures in the United States. Improving U.S. economic numbers have some wondering whether the U.S. Federal Reserve will soon back off its monthly monetary stimulus that has kept borrowing rates low, and that has some investors worried.

More to come

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