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Canadians turns deaf ear to Carney’s warnings as household debt hits fresh record at 165%

Blog by Brad Herman | March 16th, 2013

The ratio of Canadian household debt to disposable income rose to another record last quarter, calling into question Bank of Canada Governor Mark Carney’s assertion that families are listening to his warnings about the risks of borrowing too much.

Credit-market debt such as mortgages rose to 165.0% of disposable income, compared with 164.7% in the prior three-month period, Statistics Canada said Friday in Ottawa.