“Bank of Canada governor Mark Carney elected today to keep the benchmark target for the overnight rate unchanged at one per cent, a level held at since September 2010.
Despite standing pat for the 13th consecutive policy session, the central bank offered a few hints that the outlook has improved enough to consider raising interest rates sooner rather than later.”
This “sent a clear signal that rates may not stay there a whole lot longer,” BMO economist Doug Porter noted. … “The bank is clearly uncomfortable with keeping interest rates below inflation when household debt continues to grind higher, and with the economy poised to reach capacity by early next year,” Porter said. “At a minimum, the bank will be raising rates …sometime in the first half of next year.”
- CBC 17 Apr 2012
That’s now… what… five? six? times that Carney has formally warned Canadians about excess borrowing; all the while household debt load has continued upwards.