Canadian banks could withstand shock from China, deputy governor suggests
Canadian financial institutions have adequate capital liquidity to handle external pressures, Wilkins says
Canadian GDP growth would drop by 0.1% if Chinese growth were to drop 1%, according to staff at the Bank of Canada. Carolyn Wilkins, senior deputy governor, highlighted their work in a speech on April 5.
Speaking to the Greater Vancouver Board of Trade, Wilkins stressed that despite China accounting for 17% of Canada's trade, the financial sector could weather a range of shocks from the country.
The effects of a shock from China would depend on which sectors of the Chinese economy were growing
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