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- Bank of Canada Governor Stephen Poloz: housing market and high levels of household debt are the biggest risks to Canada’s economy and financial system
Bank of Canada Governor Stephen Poloz: housing market and high levels of household debt are the biggest risks to Canada’s economy and financial system
The Bank of
Canada (BoC) Governor Stephen Poloz said today that high home prices and record
levels of household debt remain the biggest risks to Canada’s economy and
financial system.
But he
added that the probability of a sharp correction in the housing market is low
and the BoC still expects “a constructive evolution of household imbalances”.
The BoC
Governor also said a potential financial disruption in China could affect the
Canadian economy by reduced demand for Canadian exports and lower commodity
prices.
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