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BRIEF-Bank Of Canada: risk of sharp increase in long-term interest rates driven by higher global risk premiums is moderate, but increasing

Published 2019-05-16, 11:58 a/m
Updated 2019-05-16, 12:00 p/m
© Reuters.  BRIEF-Bank Of Canada: risk of sharp increase in long-term interest rates driven by higher global risk premiums is moderate, but increasing

© Reuters. BRIEF-Bank Of Canada: risk of sharp increase in long-term interest rates driven by higher global risk premiums is moderate, but increasing

May 16 (Reuters) -

* BANK OF CANADA GOVERNOR STEPHEN POLOZ SAYS RISK OF SHARP INCREASE IN LONG-TERM INTEREST RATES DRIVEN BY HIGHER GLOBAL RISK PREMIUMS IS MODERATE, BUT INCREASING

* BOC'S POLOZ SAYS CLOSELY MONITORING RISK THAT STRICTER MORTGAGE GUIDELINES ARE SHIFTING CONSUMERS TOWARDS PRIVATE LENDERS AND CREDIT UNIONS

* BOC'S POLOZ SAYS DECLINE IN GLOBAL BOND YIELDS SINCE THE START OF THE YEAR HAS LOWERED CANADIAN MORTGAGE RATES, SO HOUSEHOLD BORROWING IS LIKELY TO PICK UP AGAIN

* BOC'S POLOZ SAYS MPR NOTED THAT ESCALATION OF U.S-CHINA TRADE WAR REMAINS PRIMARY RISK, THAT IS STILL THE CASE TODAY

* BANK OF CANADA SENIOR DEPUTY GOVERNOR CAROLYN WILKINS SAYS LIKELIHOOD OF PROBLEMS WITH FRAGILE CORPORATE DEBT FUNDING "IS NOT OUR BASE CASE"

* BOC'S POLOZ SAYS POTENTIAL RISKS TO FINANCIAL SYSTEM "ENTERS INTO THE DISCUSSION" ON WHAT TO DO WITH INTEREST RATES

* BOC'S WILKINS: FRAGILITY OF CORPORATE DEBT FUNDING IS NOT A STABILITY ISSUE FOR THE GENERAL FINANCJAL SYSTEM

* BOC'S POLOZ: WEREN'T EXPECTING HOUSEHOLD SLOWDOWN IN Q4 TO BE SO SHARP

* BOC'S POLOZ: BOTH VANCOUVER AND TORONTO HOUSING MARKETS HAVE REALLY SOLID FUNDAMENTALS, DEMAND OUTSTRIPPING SUPPLY, HAVE ALL INGREDIENTS NEEDED TO RECREATE FROTH

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