Bank of Canada said this week it is growing more concerned about the ability of households to manage their debt; a veteran insolvency trustee says worst is yet to come
The Bank of Canada said this week it is growing more concerned about the ability of households across the country to manage their debt.
"We're in a transition period to a world where interest rates are going to be higher than what many people have gotten used to and that transition is going to take a while. And through that transition that creates some risks." "I am quite confident we are going to see an increase of 25 per cent this year over last year, and next year we'll see another 25 per cent increase over this year," said Michalos, during a recent appearance on Village Media's Inside the Village podcast.
France Dernières Nouvelles, France Actualités
Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.
Bank of Canada highlights risk of bank sector stresses, high household debtHigher borrowing costs mean more households are expected to face financial pressure in the coming years.
Lire la suite »
Bank of Canada highlights risk of bank sector stresses, high household debtHigher borrowing costs mean more households are expected to face financial pressure in the coming years.
Lire la suite »
Bank of Canada highlights risk of bank sector stresses, high household debtThe bank said many Canadians have less financial flexibility after stretching their budgets to get into the housing market by taking on large mortgages with lengthy amortization periods.
Lire la suite »
Posthaste: Bank of Canada needs to 'crush' inflation with another rate hike, Scotiabank economist saysA resurgence in inflation has markets eyeing interest rate hikes again and one economist says the Bank of Canada should act soon. Read on.
Lire la suite »
Posthaste: Bank of Canada needs to 'crush' inflation with another rate hike, Scotiabank economist saysA resurgence in inflation has markets eyeing interest rate hikes again and one economist says the Bank of Canada should act soon. Read on.
Lire la suite »
Posthaste: Bank of Canada needs to 'crush' inflation with another rate hike, Scotiabank economist saysA resurgence in inflation has markets eyeing interest rate hikes again and one economist says the Bank of Canada should act soon. Read on.
Lire la suite »