Saturday, February 21, 2009

Canadians Carrying Huge Consumer Debt

Carney Worried Over Canadians' Debt

Bank of Canada Governor Mark Carney is worried Canadian households are becoming overextended.In a television interview Tuesday, Mr. Carney said the almost 10-per-cent increase in the level of consumer debt in 2008 is a growing concern for policy makers.After the global recession and turmoil in financial markets, the biggest risk facing the Canadian economy is household debt, he said.“When you look at the structure of the Canadian economy, the issues over which we have concern would include the level of household debt and household finances,” Mr. Carney said when asked what troubled him most about Canada's prospects.

No comments: