Risks to the Canadian financial system have shot up over the past six months on the back of worsening imbalances and a deterioration in the global economic outlook, the Bank of Canada said Monday.
"While the Canadian financial system has continued to function well in the face of adverse spillovers from Europe, it is vulnerable to renewed stress in the event of a recurrence if severe tensions in global markets," the central bank said, in its biannual Financial System Review. The growing debt
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