Bank of Canada head alarmed by rising household debt amid hot housing market: interview

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OTTAWA (Reuters) – Bank of Canada Governor Tiff Macklem, speaking in a newspaper interview, said on Wednesday he saw worrying signs that household indebtedness was worsening as housing prices continue to soar.

© Reuters/Blair Gable FILE PHOTO: Bank of Canada Governor Tiff Macklem takes part in a news conference in Ottawa

Macklem told the Financial Post he was also concerned about signs people were starting to speculate in the housing market. “That would be a mistake,” he said, noting the recent price jumps were not sustainable.

(Reporting by David Ljunggren; Editing by Chris Reese)