Some policy makers think it is their job to worry. Stephen Poloz approaches his position as governor of the Bank of Canada slightly differently. He thinks it is equally important to puzzle over what could go right.
This doesn’t mean Poloz ignores the bad stuff. He assured an audience of international bankers in Lima Saturday that he is watching “closely” the heavier and heavier debt loads Canada’s households seem determined to carry. That burden, combined with soaring house prices in Toronto and Vancouver, has prompted some foreign investors to turn negative on Canada. Some of those people likely were in Poloz’s public at the annual meeting of the Institute of International Finance, a sprawling association of the world’s biggest banks.
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