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The Bank of Canada (BoC) Governor Stephen Poloz said today that high home prices and record levels of household debt remain the biggest risks to Canada’s economy and financial system.
But he added that the probability of a sharp correction in the housing market is low and the BoC still expects “a constructive evolution of household imbalances”.
The BoC Governor also said a potential financial disruption in China could affect the Canadian economy by reduced demand for Canadian exports and lower commodity prices.
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