Bank Of Canada Brings Canadians Up To Speed
December 12th, 2008 Posted in Economy
Bank of Canada sounds debt alarm:
A significant number of Canadians are at risk of defaulting on mortgages and other loans if the global financial crisis deteriorates and triggers a deeper recession, the Bank of Canada warns.
In a sobering assessment of the financial crisis, the central bank concludes that significant risks remain for both the global economy and Canada if credit conditions don’t begin to improve.
The Bank of Canada has spoken – wonder what tipped them off?
photo credit: flattop341
