Bank of Canada press conference following the Financial System Review
- Housing market fundamentals in Toronto and Vancouver remain strong
- Doesn't see broader stress from home capital
- Seeing more uninsured mortgages and people borrowing from other sources to avoid insured mortgages
- Looked at impacts of a significant correction in Toronto/Vancouver housing markets. Don't believe it would trigger widespread unemployment
On economy:
- We're seeing early signs of an increase in business investment
- Believes commodity price risks behind them
