Bank of Canada Warns Over Private Credit Risks Amid Trade Tensions

The Bank of Canada has expressed concerns over private credit risks, citing potential vulnerabilities in financial markets. According to the bank, private credit growth is accelerating rapidly, which could lead to increased debt levels and potential instability in the financial system.

As of August 17, overall inflation in Canada stood at 3 per cent. The bank's concerns come as Canada-U.S. trade talks continue amidst rising tensions between the two nations, with the U.S. imposing 50% tariffs on Canadian goods.