Scotiabank’s Porter Calls Canada Bubble Fears Overblown

Scotiabank’s Porter Calls Canada Bubble Fears Overblown

Bank Of CanadaCanadian concerns about a housing bubble are overblown in a country where credit growth is modest and the job market is stable, says Bank of Nova Scotia Chief Executive Officer Brian Porter.

“Bubble is perhaps the most overused word since the global financial crisis,” Porter said in an interview yesterday in Washington, referring to Canada’s housing market. “We are very comfortable in terms of our exposure, we think we have monitored it well, and we stress test that.”

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Yasir Hussain

Yasir Hussain

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