The Globe and Mail reports in its Thursday, July 14, edition that the Bank of Canada says the Canadian economy will finally pick up steam in the second half of this year. The Globe's Bill Curry and Alicia Siekierski write that the BOC attributes its optimism to a climb in exports that are expected to shoot past levels not seen since before the 2008 recession. Governor Stephen Poloz's upbeat tone on Wednesday surprised some economists, given that the bank lowered its forecast for economic growth for the full year as it released its quarterly Monetary Policy Report. His message was decidedly mixed: Exports are recovering but are still disappointing; the U.S. economy is showing signs of strength, but business investment is weaker, both at home and in the United States. Mr. Poloz also warned about the hottest housing markets in the country, saying financial vulnerabilities, particularly in Vancouver and Toronto, are "elevated and rising." The sharp rise in housing prices are not justified by economic fundamentals, he said. "For us, therefore, that there could be a period of either flat or declining prices in a market like Vancouver, that risk is rising but not really quantifiable."