Last week the Bank of Canada announced that it was to leave its benchmark rate untouched, marking the eleventh consecutive occasion Mark Carney and his cohorts have opted for the policy of the passive monetarist. While this will come as music to the ears of our variable rate customers, the overall tone of the Bank’s report was one of a foreboding nature, sprinkled with caveats and doused with doubt. The bulk of concern centred on the increasing dangers of Canadian household debt, now at a startling 154% and showing no signs of abating. Continue reading →