BOC Financial System Review highlights
- Highlights risks of higher interest rates and stress from China
- Removes risk of prolonged commodity price weakness from list of risks
- Household indebtedness and housing market imbalances-the most important vulnerabilities for the Canadian financial system-have moved higher over the past six months
- Household indebtedness has continued to rise in Canada, driven in large part by growth in mortgage lending in the Toronto and Vancouver areas
- The share of uninsured mortgages is increasing
- Imbalances in the Canadian housing market have also grown since December
- The economy's adjustment to lower oil prices is largely complete
- BOC press release on the FSR
- Full report
Poloz and Wilkins will host a press conference at 11:15 am ET.
