February 1, 2019 / 3:31 PM / 9 months ago

Bank of Canada eyeing high consumer debt levels as it ponders hikes: Wilkins

A sign is pictured outside the Bank of Canada building in Ottawa, Ontario, Canada, May 23, 2017. REUTERS/Chris Wattie

OTTAWA (Reuters) - Canada’s central bank is considering the effect that higher interest rates would have on the country’s highly indebted populace as it ponders whether to raise rates, Senior Deputy Governor Carolyn Wilkins said on Friday.

“We have to be very conscious of the fact that people are highly indebted and that interest rate increases are going to have ... more of a bite than they may have had in the past,” she told the Canadian Broadcasting Corp. “We’re taking that into account.”

Reporting by Julie Gordon in Vancouver; Editing by Chizu Nomiyama

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