Financial System and Bank of Canada Governor Stephen Poloz

Bank of Canada governor Stephen Poloz: Speaking in Ottawa Thursday, Poloz said Canadas financial system is vulnerable to a sharp correction in housing prices. , according to CBC. If it were to happen, its impact on the economy and financial system would be severe, Poloz said. Bank of Canada governor Stephen Poloz says the Canadian housing sector is vulnerable because of high housing prices and high levels of household debt, but says he continues to believe it is on course for a soft landing. The most important domestic risk is a sharp reduction in house prices, he said at a news conference following the release of the central banks semi-annual review of the financial system. Real estate prices across Canada Why a housing bubble is good but maybe bad for you (www.immigrantscanada.com). As reported in the news.