IMF Rings The Alarm On Canada's Economy
![IMF Rings The Alarm On Canada's Economy IMF Rings The Alarm On Canada's Economy](https://5ux.com/sites/5ux.com/files/styles/medium_250/public/resize/remote/4fff0112e3c5c74be88e6ba640d469a4-500x318.png?itok=q8gab1-B)
Shortly after yesterday's rate hike by the Bank of Canada, its first since 2010, we warned that as rates in Canada begin to rise, the local economy which has seen a striking decline in hourly earnings in the past year, which remains greatly reliant on a vibrant construction sector, and where households are the most levered on record, if there is anything that can burst the local housing bubble, it is tighter monetary conditions. And a bubble it is, as the chart below clearly demonstrates...