Carney’s debt warning
Posted Apr 28, 2010 04:29:01 AM.
This article is more than 5 years old.
Bank of Canada Governor Mark Carney is repeating his warning for Canadians to be very careful how much debt they’re putting on their shoulders.
Carney appeared before the Commons finance committee on Tuesday.
He says we are taking on more debt should think about what it will do to our finances over the long-term.
Economists warn those Canadians could find themselves seriously overstretched amid solid signs interest rates will rise in the month ahead.
Carney is also predicting Canada’s hot housing market will likely cool down by the end of June, and remain relatively cool for the next few years.
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