Measures to cool the housing market in the Greater Toronto Area have received a warm response from Canada's central banker, who said Saturday it should have some effect on runaway housing prices. "I'm happy there are measures," Stephen Poloz, the governor of the Bank of Canada, told reporters during financial meetings in Washington. "It's a risk we've been highlighting," he said of skyrocketing housing prices in Toronto. He said he believed the issue of controlling runaway prices was a matter of psychology, more than market fundamentals. The federal government has applauded Ontario's move — but has said there's no reason to introduce a similar tax coast-to-coast.

Source: CBC News April 23, 2017 00:22 UTC