Household debt, housing worries easing but other concerns persist, Bank of Canada says

Threats to the financial system from household debt and home prices are easing, but the Bank of Canada is grappling with a clutch of fresh worries, including rising corporate debt, climate change and a possible recession.

“Global uncertainty is rising, and risks to financial stability have edged up in the past year,” Mr. Poloz said in a statement. “Still, confidence in the resilience of Canada’s financial system remains high, and we are seeing improvements in some of the key vulnerabilities we’ve been worried about for many years.”

The Bank of Canada said it is also closely monitoring a spike in borrowing by non-financial companies, particularly by businesses exposed to lower commodity prices. The ratio of debt to corporate income now stands at 315 per cent, or “well above” the historical average. The Bank of Canada has also launched a multi-year research plan to “better assess” the risk from climate change, in cooperation with other central banks around the world.

The report warned there is a “limited understanding and mispricing of climate-related risks,” and that could inflate the cost of transitioning to a low-carbon economy.“Few firms disclose the financial impact of climate change on their assets and operations,” the report said. “There are inconsistencies in how firms report climate-related risks across industries and regions.”

globebusiness What is he and his ilk going to do about the Financial capitalists that are literally destroying world economy?

globebusiness Household debt has not eased you idiot it takes more than a couple months for that...

globebusiness Hey, the household debt will balance itself.

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