Canada’s Côté on households' role in recovery
Agathe Côté, a deputy governor of the Bank of Canada, on Monday said household spending had helped propel the economy out of the recession, but warned it was unlikely to continue to provide the same level of support.
At an event in Kingston, Ontario, Côté said: "Lower interest rates for secured lending and increased access to credit as house prices rose have helped fuel net increases in credit and supported household spending in Canada in recent years."
However, Côté said house price gains were
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