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Bank of Canada Raises Concerns Over High Household Debt
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OTTAWA—Canadians’ high household debt levels are re-emerging as a concern despite the massive fiscal support offered by the federal government during the pandemic, a senior Bank of Canada official said Tuesday.
Deputy Governor Paul Beaudry said the prevalence of highly indebted households -- which are defined as those with a debt-to-income ratio above 350% -- likely improved during the first year of the pandemic as many Canadians accumulated savings and paid down debt. But that trend appears to be reversing, he said, in part...
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