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CDN MORTGAGE TRENDS: Magnitude of credit losses will depend on BoC’s ability to orchestrate a soft landing: RBC

 


While RBC posted stronger-than-expected earnings results, the bank said it expects credit losses to intensify in the coming months as interest rates remain elevated. In comments made during the bank’s Q3 earnings call, chief risk officer Graeme Hepworth said the impact of inflation and high interest rates is expected to play out over the coming years. 

 

“We are still in the early stages of the current credit cycle,” he said. “As we move further into the credit cycle, we expect to see losses driven by more systemic factors arising from the anticipated economic slowdown.”

 

The full extent of the anticipated slowdown or potential recession remains largely in the hands of the Bank of Canada, Hepworth added ...


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