Comments from the BOC Deputy:
- Expect an increasing number of firms will need financing in coming months to get by
- Financial system remains resilient after virus
- Over 99% of deferred payments among consumers have resumed
- BOC trying to solve problems without creating incentives for financial system participants to take on undue risks in normal times
- We're seeing lower levels of household and consumer debt
Canadian government benefits have been among the most-generous in the world. There's been no reaction in the loonie to the comments. Last at 1.3088.
