“It's a risk we've been highlighting.”Poloz said the Vancouver move appears to have had some impact on galloping prices there, though the effect still being assessed. He said he has every reason to believe Ontario's policies will affect prices there too. He said he believed the issue of controlling runaway prices was a matter of psychology, more than market fundamentals. He said the right way to deal with that was policy tools — not increasing interest rates.
— Stephen Poloz
Premier Kathleen Wynne and provincial Finance Minister Charles Sousa are bringing in new rules for the Greater Golden Horseshoe area's housing market. (Photo: Andrew Francis Wallace/Toronto Star via Getty Images)The federal government has applauded Ontario's move — but has said there's no reason to introduce a similar tax coast-to-coast. Poloz noted that the moves in B.C. and Ontario had made international news. He said peers at last year's annual meeting asked him about the Vancouver policy, but that the Toronto announcement did not come up in chats this week.
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