Canadian housing market cooling, but still a risk - central bank
TORONTO, June 26
TORONTO, June 26 (Reuters) - The risk to the Canadian financial system from consumer indebtedness and the heated housing market has abated over the past year but is still present and merits monitoring, a Bank of Canada official said on Wednesday.
"We are seeing a moderation over the last year in both the buildup of household indebtedness and also the related imbalances in the housing market," said Bank of Canada Deputy Governor Timothy Lane in response to an audience question following a speech in Toronto.
"At the same time ... that's not to say that the risk has suddenly disappeared, and it's still a risk that we're watching very closely," he said.
- Housing, jobs data weaken, but overall economic picture still upbeat
- Last-minute Obamacare exemption for those with canceled plans
- U.S. diplomats, but not prosecutors, seek to quell India dispute |
- Target cyber breach hits 40 million payment cards at holiday peak |
- New York Mayor-elect's reputation for lateness parodied on Twitter