Canadian household debt to income ratio rises to historical high, Statistics Canada says [Toronto Globe and Mail (Ontario, Canada)]
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Source: Toronto Globe and Mail
Canadian household debt to income ratio rises to historical high, Statistics Canada says Household finances in Canada unexpectedly deteriorated in the fourth quarter, as debt loads rose to record levels, interest and principal payments ate up more personal income, and total net worth declined year over year for the first time since the financial crisis. The closely watched debt-to-disposable-income ratio ticked up to a historic high of 174 per cent in the fourth quarter, up .4 percentage points from the previous three months, according to Statistics Canada, marking a setback in the stabilization of debt seen over the past couple of years. Though the rate of household borrowing continued to slow through the end of the year, income growth slowed even more, underlining a key risk of carrying high debt late in an economic cycle. Story continues below advertisement It can be much more difficult to reduce debt when macroeconomic factors take an unfavourable turn, said Stephen Brown, senior
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Earnings
- 2/28/24 - Beat
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Sec Filings
- 4/25/24 - Form FWP
- 4/25/24 - Form 424B2
- 4/24/24 - Form 424B2
- RY's page on the SEC website