Wednesday, March 4th4.1°C
25405
22746

Signs of improvement, but housing remains key risk to Canadian economy, says BoC

OTTAWA - The Bank of Canada is continuing to sound the alarm about the country's housing market and high levels of household debt.

The central bank's says in its latest semi-annual review of the financial system that Canada's housing market is showing signs of a soft landing, but it remains the biggest domestic risk facing Canada.

The probability of a sharp housing correction, particularly in prices, is small, the bank says, but the consequences would be large for highly indebted households, some financial institutions and the economy in general.

Overall, the bank says the risks to the financial system remain largely unchanged since it last reported on the issue in December, although it says the likelihood of a hard landing in China has increased, while the risks in the eurozone have lessened somewhat.

The Canadian Press


Read more Business News

25103


Recent Trending




Today's Market
S&P TSX15082.84-51.01
S&P CDNX698.09-4.21
DJIA18096.90-106.47
Nasdaq4967.142-12.76
S&P 5002098.53-9.25
CDN Dollar0.80480.00
Gold1198.00-6.00
Oil53.28+0.05
Lumber287.30-3.40
Natural Gas2.782+0.013

 
Okanagan Companies
Pacific Safety0.13-0.005
Knighthawk0.010.00
QHR Technologies Inc1.55-0.05
Cantex0.035-0.005
Anavex Life Sciences0.18+0.005
Metalex Ventures0.04-0.005
Russel Metals24.95-0.26
Copper Mountain Mining1.24-0.01
Colorado Resources0.13-0.005
ReliaBrand Inc0.0065-0.0015
Sunrise Resources Ltd0.045-0.005
Mission Ready Services0.225+0.01

 





FEATURED Property
220475412563 Driftwood Crt.
5 bedrooms 5 baths
$929,000
more details
image2image2image2
Click here to feature your property
Please wait... loading


Refinance your mortgage?

Canadian Mortgage rates are low and could be dropping down in time for the spring market following a drop in the Bank of Canada Rate on January 21 by 1/4% which will save new buyers and those with mo...


Creating your retirement vision

A vision means different things to different people. To the head of a large corporation, it’s the ability to chart a course that will deliver success (think Steve Jobs and Apple), to a shaman, i...


It's OK to say 'I'm sorry'

Photo: ContributedStand-up comedians and sitcoms have been making fun of Canadians for being polite as long as I can remember. Being known for our niceness is certainly not a bad thing and I wish more...

_








Member of BC Press Council


25107