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Thursday, December 9, 2021

Bank of Canada eyes overall economy, even as debt, NAFTA weigh: Wilkins

Bank of Canada eyes overall economy, even as debt, NAFTA weigh: Wilkins© Reuters. Bank of Canada Senior Deputy Governor Carolyn Wilkins poses for a photograph following an interview with Reuters in Montebello

By Andrea Hopkins

MONTEBELLO, Quebec (Reuters) – Canada’s high household debt is the biggest vulnerability facing the economy and uncertainty about NAFTA is weighing on the outlook, but the Bank of Canada is factoring in the economy’s overall performance as it makes its next rate decision, Senior Deputy Governor Carolyn Wilkins said on Thursday.

While some households will find it extremely difficult to cope with higher debt service costs, the central bank expects both the economy and consumption to continue to grow, Wilkins said in an interview with Reuters.

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Source: Investing.com

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