The Bank of Canada will release its twice-yearly review of the country’s financial system Thursday. In a media conference at 11.15am governor Stephen Poloz and deputy Carolyn Wilkins will give an update on the nation’s financial health. In December the bank said that high household debt and the housing market were among the vulnerabilities in the system and in the month that followed it surprised markets with a cut in interest rates. Benjamin Tal, chief economist with CIBC World Markets told the Wall Street Journal that those concerns are likely to have intensified, especially as household debt continues to rise. He believes that the BoC will address the issue of the housing markets in the oil provinces and the heat in Toronto and Vancouver housing.
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