Category : Bank of Canada

With interest rates at near-zero levels, the temptation to borrow is growing.The first wave of pandemic restrictions and job losses triggered a national savings spree. Canadians rushed to beef up their emergency funds, and many also found they had more cash on hand at the end of the month with COVID-19 restrictions trimming both their commuting costs and their spending on dinners out and entertainment. READ MORE: Bank of Canada keeps rates at 0.25%, warns of negative growth in early 2021 Government aid programs tied to the health emergency also helped keep debt loads in check by propping up incomes. As Read More