UPDATE 1-Bank of Canada urges removal of barriers to home building to cut inflation

The Bank of Canada (BoC) on Thursday called for policy changes to spur more housing construction and reduce pressure on inflation caused by a lack of shelter, especially at a time of record immigration. Deputy governor Toni Gravelle spoke a day after the central bank held its key overnight rate at 5% but left the door open to another hike, saying it was still concerned about inflation. Gravelle in a speech to the Windsor-Essex Regional Chamber of Commerce made an unusually forthright plea to local and national governments to speed up new construction, and spent little time discussing the interest rate decision.