Bank of Canada deputy governor raises flag on rising household debt

Financial Post

The threat increasing household debt presents to Canada’s economy — and the country’s financial system, in particular — is continuing to grow, and at an ever-worrying pace. The rising risks to heavily-indebted borrowers, those who have taken advantage of ultra-low interest rates following the 2008-09 recession, would be an economic collapse and a jump in unemployment, accompanied by a sudden and deep shock to the housing market — leaving many Canadians unable to meet their mortgage payments.

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Michael James

Michael James

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