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Canada auto loans raise credit risk red flags

Lenders starting to get nervous that jump in jobless rate could spark more defaults

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Credit risk monitors that have been keeping a close eye on loan performance in Canada as higher interest rates put pressure on borrowers, say lenders are starting to get nervous.

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The jump in the unemployment rate and loss of jobs in March “is stoking unease about the short-run outlook for loan performance,” said Moody’s Analytics.

Canada lost over 2,000 jobs and the unemployment rate rose to 6.1 per cent last month, its highest level in two…

Read more at financialpost.com

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