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Bank of Canada reduces policy rate by 25 basis points
(www.bankofcanada.ca)
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this post was submitted on 05 Jun 2024
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The BoC is enforcing goals set with the federal government.
Although you're correct, all three levels of government have basically outsourced housing policy to developers, and are relying on the BoC's overnight rate to control affordability.
The original comment is right: all three levels of government are primarily looking out for wealthy Canadians who are invested in real estate.
With these changes, the housing market probably will go "brrrrrrrrrr."