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Release of the Financial System Review

· Tiff Macklem, Governor of the Bank of Canada (Canada)

Summary written by Dark Majestic in its own words · topics: financial stability, public finances and debt, trade, fragmentation and geopolitics

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· Tiff Macklem Wiki · Bank of Canada WikiRelease of the Financial System Review

ContextOpening statement by Tiff Macklem, Governor of the Bank of Canada, before the Standing Senate Committee on Banking, Trade and Commerce, Ottawa, Ontario, 27 April 2022.

Why it mattersMacklem flags household debt and housing as key vulnerabilities.

Problems raised
  1. Canadian financial vulnerabilities exist.
  2. The war adds risks.
  3. Risks are rising.
Solutions proposed
  1. Assess vulnerabilities annually.
  2. Monitor household debt and housing.
  3. Communicate risks.
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