A great misunderstanding

Mark Carney has been appointed the next governor of Bank of England. Some people believe that BOC's policy under Carney has been so expansive that he has built the way to destruction.  I doubt it. As far as I know BOC's policy was classic counter-cyclical monetary policy. This is what the Bank of Canada has done  to its monetary base during his term:

The Bank expanded its balance sheet through 2009 and the early 2010 but it contracted through the mid 2010 and the first half of 2011 and has steadily increased the monetary base as the NGDP grows, (whether or not in intended). The information is from CANSIM.

It is not what you can expect from an expansionary central banker. The information is from FRED. The problem of housing bubble is probably not from low interest rate. Plus the low interest rate is not from the BOC's loose money. That is generally from the weak recovery in the U.S. economy and the low velocity of money in Canada, which represents low money demand. The information is from FRED and CANSIM.