Lane continues to speak
- Where we are now is still relatively low compared to what we think is the neutral level
- GDP from Q2 suggests growth was rather strong, that's what data dependence looks like
- Households are more indebted than a few years ago, we have to watch changes closely
- Each decision is a live decision
- Household debt is an issue that's been continuing to play out and it's really linked to strength of housing markets
- Consumer indebtedness is a big vulnerability for Canadian financial system
Some even "stronger" jawboning but it's combined with rosy comments on the economy. I tend to think of the economic view as the important part but the market has other ideas today.
