Sentences with phrase «record household debt»

The survey comes amid concerns that record household debt is a key risk for the Canadian economy.

«He doesn't want to leave any question about the independence of the Governor of the Bank of Canada, but we have a situation under the Conservative government that has allowed record household debt... and the bank is really caught between a rock and a hard place, because these high debt levels create pressure for higher interest rates, but inflation is very low.

I believe that Canada's high house prices in relation to incomes, combined with record household debt levels and overinvestment in residential construction, will cause a severe correction in the real estate market.

Poloz's approach to now had been a series of gentle nudges; raising housing prices and record household debt as concerns, but at the same time accepting that buyers and their lenders likely knew what they were doing.

Poloz's press conference followed the release of the central bank's December Financial System Review, which concluded that a record household debt burden makes Canada vulnerable to a housing crash, although policy makers see little reason to think that will happen.

Flaherty has warned consumers to avoid mortgages that could become unaffordable when borrowing costs rise, after Canadians took on record household debts relative to disposable -LSB-...]

Not exact matches

The IIF said Argentina, Nigeria, Turkey and China recorded the largest buildup in debt ratios over the year, the latter fueled by ongoing growth in indebtedness of households and the nation's finance sector.

It suggests the weight of a record level of household debt is starting to feel heavy.

Here are three off the top of my head: Record levels of household debt threaten future spending, too many of our companies need a weaker currency to be competitive, and international energy companies are giving up on Canada as a place to invest.

While Canada's record high household debt makes the economy more vulnerable, the bank's cautious approach is helping to manage the risks, Poloz said.

All sectors recorded an increase in debt loading from the end of 2016, lifting by $ 4.5 trillion, $ 6.5 trillion, $ 4.5 trillion and $ 5.5 trillion respectively for households, non-financial corporates, governments and the financial sector.

YELLOWKNIFE, Northwest Territories, May 1 - Bank of Canada Governor Stephen Poloz said on Tuesday that the view of the Canadian economy is quite good despite record levels of household debt, and he was confident the central bank can manage the risk of that debt even as interest rates rise.

That's a drag on growth, but a welcome one if it means households have begun doing something about record levels of debt.

There's an economic imperative at play, of course: thanks to steadily increasing costs of living, and record levels of household debt, many sexagenarians and even septuagenarians simply can't afford to stop working.

The house - price bubble, combined with record levels of household debt, represent the biggest threat facing the Canadian economy; the sooner real - estate markets mellow and Canadians lower their debt burdens, the better.

As everyone knows by now, Canadian households are carrying record debt burdens.

Earlier this year, the household debt - to - income ratio hit another record of 167.8 per cent.

Forget about household spending: with debt at record levels, consumer spending on new goods and services will be restrained.

By borrowing: the country's household debt to personal disposable income ratio has climbed to a record high of 152.98 %, according to Statistics Canada.

Schembri conceded that ultra-low borrowing costs have pushed household debt to record levels, but expressed no worry about a U.S. - style housing crash.

In its latest statement, it said «household vulnerabilities have moved higher,» which is how policy makers describe the troubling nexus between excessive housing prices in many cities and record levels of household debt.

But against the backdrop of slow average wage gains and record levels of household debt, she says, «it looks like the average Canadian is about to get into a pretty serious squeeze play.»

With the rate of home ownership now close to 70 %, and with household debt at a record high, much of the financial health of Canadian households is inextricably linked to home values, making it the kind of dominant concern that not only affects household finances, but consumer psychology and confidence.

Across the developed world, it's contributed to record levels of household debt.

In the third quarter, the ratio of household debt to disposable income rose to another record high of 165 %, nearing the peak of U.S. borrowing prior to the financial crisis.

In Canada, household debt has reached an average that's approaching 150 % of disposable income, a record high.

As prices have kept rising, Canadians have eagerly taken on mortgages, and household debt levels have soared to record levels.

One was to send household debt levels up to nearly 150 % of income, a record.

Carney was quick and decisive in slashing rates during the crisis, more so than other central bankers, but the sustained period of low rates has led to a record amount of household debt and other problems.

Any number of shocks could send Canada's house of cards tumbling, the bank says, particularly higher borrowing costs that pinches households already carrying record high levels of debt.

The ratio of Canadian household debt to disposable income rose to a record 165 percent in the first quarter from 164.7 percent in the previous period.

Canadian households are carrying near - record debt loads, and we are growing increasingly concerned about risks in some housing markets.

A long period of lacklustre wage growth suggests the only way households can satisfy their spending habits is to keep adding to Canada's record pile of private debt.

The Report is based on data from the New York Fed's Consumer Credit Panel, a nationally representative sample of individual - and household - level debt and credit records drawn from anonymized Equifax credit data.

Given the nation's debt load — as of February, households had a record $ 2.1 trillion of mortgage and non-mortgage debt — Poloz estimates the economy is 50 per cent more sensitive to rate hikes than in the past.

However, I suspect that spending by the average household, strapped with a record level of debt, will continue to contract — especially spending on discretionary items.

«At a time when consumers are carrying record amounts of debt, the persistence of HELOC debt may add stress to the financial well - being of Canadian households.

In addition, it can encourage consumers to add to their debt load, which could put stress on Canadian households, at a time when they are carrying record amounts of debt.

By 30 September 2012, Canadian household debt to personal disposable income reached a record 165 %, up from 137 % as of 30 June 2007, as debt grew faster than personal incomes.

Total household debt reached a record $ 13.15 trillion at the end of 2017, up about $ 2 trillion since the most recent trough in 2013.

Statistics Canada, the country's data agency, said the ratio of household credit - market debt to disposable income hit 163.4 % in the April - to - June period, an increase from the upwardly revised 161.8 % recorded in the first quarter.

That will change soon, if Poloz can shake off some of the concerns that, as he acknowledged in a speech last week, keep him «awake at night» — such as record - high home prices and household debt, lagging youth employment and cyber threats that could disrupt Canada's financial system.

The latest revised data from Statistics Canada showed the ratio of household debt to income fell slightly to 161.8 percent in the first quarter from a record 162.8 percent in the third quarter of last year.

Low oil prices have taken their toll on an already weak Canadian economy, where household debt levels are at record highs and business investment continues to lag.

Canadians have a debt problem — the key measure of a consumer's debt burden now stands at a record level — which is why Finance Minister Jim Flaherty and Mr. Poloz's predecessor Mark Carney urged households for months to put a lid on it.

The Canadian consumer, meanwhile, might be benefiting from somewhat cheaper gasoline, but their spending capacity is stretched thanks to a record high level of household debt.

In a seven page report released Friday, Beata Caranci says the need for financial literacy has never been higher because of record low interest rates and household debt growing faster than income, something the millennial population seems unprepared to deal with.

I've left out the fact that household debt hits a new record every month.

«Today's record level of household borrowing reflects the evolution of the financial system and the comfort level of Canadians in taking on debt,» Poloz said.

Statistics Canada in March reported that the country's average household debt - to - income ratio hit a record - high 167.3 per cent.