Tackling Toronto's tearaway property prices through taxes

Washington

BANK of Canada governor Stephen Poloz said on Saturday that he is happy Ontario has brought in new measures to tackle the Toronto housing market, saying a foreign buyers' tax should help dampen demand and impact the psychology of speculators.

"I'm happy that there are measures; it's a risk we've been highlighting," Mr Poloz told reporters on the sidelines of the spring meeting of the International Monetary Fund.