“You cannot blame the government, because we’re putting together programs that should take five years in five minutes,” Tal said. Meanwhile, higher savings rates have begun to show in banking accounts. High savings rates are in turn expected to put a damper on Canada’s economic recovery, as households continue to eschew overseas trips and other expensive pursuits. The bank expects savings rates to stay inflated perhaps until next summer. In the third quarter of this year, it expects savings rates to remain as high as 11 per cent, the report said.

Source: National Post November 18, 2020 12:03 UTC