Canada's economy was well prepared for the shock of the coronavirus and will likely recover faster than those of comparable countries, according to the governor of the Bank of Canada. Poloz made the remarks before the House of Commons finance committee Thursday as he took questions on the government's response to COVID-19. "Yes I have quite a lot of confidence in that," Poloz said during the virtual meeting. "The economy should begin restarting before the third quarter starts, and for sure would be doing so in the third quarter," he said. The worst-case scenario is a bit of a bottomless pit that could see deflation, reducing income for companies and making it harder for them to pay off debts.

Source: CBC News April 17, 2020 01:33 UTC