Tiff Macklem, governor of the Bank of Canada, said during a speech in Mexico City that the central bank will be taking housing affordability into account during its mandate review. Macklem is pictured here in Vancouver in 2024. Photo by Ethan Cairns / The Canadian Press

Bank of Canada governor Tiff Macklem says policymakers will focus more on housing affordability as they prepare to renew the central bank’s monetary policy framework next year.

Housing supplies remain an issue that will be primarily tackled by governments, but Macklem pointed out that monetary policy impacts housing demand through interest rates .

“Housing is a big part of the consumer price index in Canada, so the cost of housing affects inflation ,” he said during a speech in front of Mexico’s central ba

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