Bank of Canada: cannot take lead in maintaining financial stability

By Jonathan Montpetit MONTREAL (Reuters) - Central bankers cannot take primary responsibility for upholding financial stability because interest rates are too blunt an instrument to address potential problems in just one part of the economy, a Bank of Canada official said on Monday. Record high consumer debt and hot housing markets in some Canadian cities have fueled worries that over-extended borrowers pose a risk to the financial system. The central bank cut interest rates twice last year as c