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Canada household debt-to-income ratio slips from record high


Canada household debt-to-income ratio slips from record high

The ratio of Canadian household debt to income in the fourth quarter of 2013 slipped to 164.0 percent from a record 164.2 percent in the third quarter, Statistics Canada said on Friday. The ratio is closely watched by government and Bank of Canada officials, who have long fretted about high personal debt levels and a possible housing crash. The Bank of Canada said last week that recent data supported its view that there would be a soft landing in the nation's housing market and the household debt-to-income ratio would stabilize. Bank of Canada Governor Stephen Poloz said last December that consumers had pushed up their plans to buy houses as mortgage rates started to rise.


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