BOC: Level of household debt relative to income remains high and continues to rise
Below are the key highlights from the Bank of Canada's recently published semi-annual Financial System Review.
Level of household debt relative to income remains high and continues to rise.
Elevated household indebtedness remains most important vulnerability to financial system.
Pace and degree of developments around household indebtedness are uncertain.
Better economic conditions, new policy measures support prospects for more progress on system risks.
Overall risks remain elevated, but preliminary signs of improvement are emerging.