Quote:
Originally Posted by Clarkey
If things start to hurt too much in Ont, the BOC will back away from the rate increases.
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But isn't the Bank of Canada essentially (semi) autonomous from the government in power? (ie. the whole government deals with fiscal policy and BoC sets monetary policy.)
With their mandate to control inflation I wonder how willing they would be to jack rates if inflation required it, in spite of the housing situation at the time. (Of course housing would be just a part of the economy that would certainly affect the inflation measurements.)