Bank of Canada to outline financial system risks amid soaring inflation
Global News
The Bank of Canada's annual financial system review comes as decades-high inflation rates are straining deeply indebted households after a run-up in the real estate market.
The Bank of Canada will outline what it sees as the key vulnerabilities and risks to Canada’s financial system Thursday morning.
The central bank’s annual financial system review comes as decades-high inflation rates are straining deeply indebted households following a significant run-up in the real estate market.
The Bank of Canada has been raising interest rates to try to curb inflation, which is also increasing the carrying costs of mortgages.
Last year’s review focused on the intensification of household vulnerabilities from the housing market, while at the time the bank still expected inflation to peak near three per cent last summer before easing later in 2021.
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