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SEPTEMBER 30 HOLIDAY

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Tag Archives: COVID-19

Despite relative stability, Bank of Canada still sees multiple downside risks in nation’s economy

The most disastrous effects of the COVID-19 pandemic on Canada have been moderated thanks to Canada’s fundamentally robust financial system and a comprehensive response by federal authorities, but multiple downside risks remain, the Bank of Canada said earlier this week. Among the most prominent perils are the ongoing financial struggles of Canadian households and businesses. Toni [&hellip…

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Survey: Canadians struggling to pay mortgages due to COVID-19

The economic impact of the COVID-19 pandemic has reduced the ability of low-income Canadians to pay their bills on time – including rent and mortgage payments. A survey commissioned by national charity Prosper Canada and conducted by analytics firm Leger found that a significant number of respondents earning under $40,000 report that almost all aspects [&hellip…

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CIBC: Housing market slowdown looming amid economic malaise

Optimism towards the Canadian housing sector’s prospects has been mounting, but the market should not count out the impact of the lingering economic lethargy brought about by COVID-19, according to Benjamin Tal, deputy chief economist at CIBC. Tal said that historically low interest rates are driving “the most housing-friendly-recession ever,” but economic drag will soon push [&hellip…

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