RemarksJohn MurrayVictoria chapters of the Certified Management Accountants, Certified General Accountants and the Financial Management InstituteVictoria, British Columbia
Deputy Governor John Murray discusses the Canadian economy from an international perspective.
Highlights the value of ‘prudent’ borrowing in enhancing welfare, but also the risks of over-indebtedness for households, the economy and financial stability. Discusses trends in household debt, various debt metrics and why monetary policy is concerned with how households use borrowed funds.
Until recently, there have been few efforts to systematically measure and aggregate the nominal value of the different types of sovereign government debt in default. To help fill this gap, the Bank of Canada’s Credit Rating Assessment Group (CRAG) has developed a comprehensive database of sovereign defaults posted on the Bank of Canada’s website.
The Summary of Comments - 2014-15 Debt Management Strategy Consultations is being published in conjunction with the release of the government’s Debt Management Strategy for 2014-15.