Bank of Canada Says Impact of COVID on Economy Has “Peaked”
byIn response, the Bank has kept its key interest rate target on hold at 0.25%.
In response, the Bank has kept its key interest rate target on hold at 0.25%.
To keep small businesses in operation and more people employed as the economy reopens.
Household spending in the first quarter also dropped by 2.3%, the steepest fall on record.
Lenders are looking a lot more closely right now.
New data focusing on the second half of March has now been released.
Without further assistance from the government.
However, Toronto’s economy is expected to rebound next year with GDP growth of 6.2%.
Though consumer insolvencies are expected to spike in the wake of the pandemic.
In an effort to encourage more employers to re-hire staff and kick-start the reopening of the economy.
Toronto has lost more than half a million jobs since February.