Poloz Speech: Too soon for us to have reading on impact of recent interest rate increases

The Governor of the Bank of Canada Stephen Poloz is presenting the Financial System Review, providing the key highlights (via Reuters) found below.

It's too soon for us to have reading on impact of recent interest rate increases.

It takes six to eight quarters for full effect to work its way through economy.

Not surprised by resiliency of toronto housing market; demand side is very clear.

With demand strong, supply constraints you have the ingredients for higher housing prices.

New changes being brought in will have an effect on the margin, some of those coming into effect now.

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About Stephen Poloz

Stephen S. Poloz was appointed Governor of the Bank of Canada, effective 3 June 2013, for a term of seven years. As Governor, he is also Chairman of the Board of Directors of the Bank. Mr. Poloz is a Certified International Trade Professional and a graduate of Columbia University’s Senior Executive Program. He has been a visiting scholar at the International Monetary Fund in Washington, D.C., and at the Economic Planning Agency in Tokyo, Japan. Mr. Poloz has taught economics at the University of Western Ontario, Concordia University and Queen’s School of Business. He is a past president of the Ottawa Economics Association.