BoC's Macklem: Household indebtedness is worsening as housing prices rise

Bank of Canada Governor (BoC) Tiff Macklem said on Wednesday that they are observing worrying signs that household indebtedness is worsening as housing prices rise, as reported by Reuters.

"Recent housing price increases are not sustainable," Macklem told the Financial Post in an interview. 

Market reaction

These comments don't seem to be having a noticeable impact on the CAD's performance against its rivals. As of writing, the USD/CAD pair was trading at 1.2574, where it was down 0.45% on a daily basis.