But Ghosn believes the nation is headed "without any doubt" to a soft, rather than hard, landing thanks to domestic growth.

CNN: Ghosn: Eurozone now has time, but needs growth

There are risks in that the rapid rises in residential real estate prices could reverse and become destabilizing to parts of the economy, but overall, we forecast a soft rather than a hard landing for the economy and forecast 2102 economic growth of about 8%.

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This, in turn, will be good for China and the world economy, as the real estate market will be in for a soft landing rather than a hard-landing.

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Unlike other major central banks, including the Bank of England and the US Federal Reserve, the Bank of Canada's six-member governing council makes its decisions by consensus rather than votes and present verdicts as a common decision, thereby avoiding being labelled hard or soft on policy.

BBC: Bank of Canada names Stephen Poloz as new governor