On Thursday, the Bank of Canada released the results of one of it’s semi-annual assessments. The results? Canada’s financial system is still at risk – in fact, even more so than it was six months ago. They have suggested a number of reasons as to why this may be so:
- Debt concerns in Europe could highly effect our financial system
- The economic recovery is happening at a much slower pace than we had originally anticipated
- The debt the average household is taking on is growing at a rate much faster than the rate of income growth
- Steps agreed on by the G20 to narrow the trade imbalances among countries (imbalances that made the 2008 financial crisis affect so many countries) are being implemented at a very slow rate
