Bank of Canada says government efforts to curb housing crisis will help, but 'only gradually'
Largely as a result of a mismatch in immigration and housing supply, rental costs for Canadians are rising by eight per cent annually, the Bank of Canada said in its Monetary Policy Report. Meanwhile, mortgage costs are climbing by nearly 30 per cent. Recent government actions will help relieve the problem, but it will be a lengthy process, the BoC said.
