Mediafax (Mediafax)
Macroeconomics  |  December 13, 2010 19:00:05

Carney (BOC): Low interest rates are new risks


Mediafax

OTTAWA (MEDIAFAX) - Low interest rates can lead to numerous risks, warned on Monday the central bank governor of Canada (BOC) Mark Carney. Informed the agency said.

"Low interest rates may lead to financial market players to underestimate the risks of investing in debt assets, may also lead to the fact that investors seek riskier investments with higher yields," said Carney. Low interest rates and cheap money also affect Canadian households, which is mainly due to mortgage loans increasingly into debt and may get into serious problems if their financial situation worse, said the central bank chief.

"The fact that interest rates are low today does not mean that tomorrow will be low. Cheap money and definitely not long-term growth strategy," added the governor.

The main interest rate at BOC is one percent. Analysts polled by Reuters expect the Monetary Committee of Central Bank to raise rates in May to join next year. "Before we proceed again to the rate increase will be carefully approved all the circumstances," said Carney.

Vojtech Kristen, kristen@mediafax.cz

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