BoC: Risk slightly higher, but financial system remains resilient

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In its latest ‘Financial System Review Summary – 2019’, the Bank of Canada said that the overall risk to the Canadian financial system has increased slightly since the last assessment in June 2018.

Key quotes

“This increase is due to a slowdown in economic growth, caused in part by global trade policy uncertainty, last year’s oil price decline, ongoing difficulties in the energy sector and expanded risk taking in global financial markets.”

“The most important risks to Canada’s financial system remain a severe nationwide recession, a large house price correction and a sharp repricing of risk in financial markets.”

“Overall, the financial system remains resilient, and confidence among market participants continues to be high.”

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