Total Debt Worldwide Hits US$240 Trillion, And The Bank Of Canada Is Worried

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“Whether you’re a homeowner or a business person … high leverage can leave you in a vulnerable financial position.”

OTTAWA — The Bank of Canada’s senior deputy governor says an explosion of global debt over the last decade is a top concern that she argues is holding back economic growth and creating vulnerabilities in the world’s financial system.

The global financial system is in better shape than it was in 2007 before the financial crisis, but unknowns such as ongoing U.S.-China trade tensions could knock things off course, Carolyn Wilkins said in a speech Thursday in Vancouver.

Wilkins also warned…

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