Canada positioned well: Carney
Posted Dec 12, 2011 03:06:45 PM.
This article is more than 5 years old.
Bank of Canada Governor Mark Carney says the advanced economies of the world are facing a massive challenge with debt, but Canada may be in position to take advantage.
In a speech to Empire Club in Toronto, Carney warned an historic era of paying off debt is being forced on European countries and the United States.
Carney says businesses can benefit from Canada’s sound banking system, super-low interest rates and their own solid balance sheets by investing to boost productivity and make inroads in the fast-growing emerging nations.
But at the consumer level, Carney warns Canadians need to end their spending splurge, particularly on homes, now that their debt levels are at record highs.
