It is one of the factors that has been weighing on consumption growth over recent times. As households have revised down their expectations of future income growth, they have adjusted their spending too. A downward revision to expectations of income growth also means debt obligations stay higher for longer than was originally expected. Why is this happening, both here and elsewhere in the world?
Fifth, we have received many suggestions about how to increase the consistency and predictability of CRA evaluations and ratings. Although we are still in the process of working through the public’s comments, those we have read so far suggest general support for the view that the CRA regulations and examinations would benefit from more clarity, consistency, and predictability.