> As Canadians look to Ottawa to repair an economy ravaged by COVID-19, there’s a growing focus on our savings accounts as a source of potent fiscal stimulus just waiting to be “unleashed.”
> Bay Street economists estimate businesses and households are sitting on upwards of $170 billion in excess cash. It’s an eye-popping figure the Trudeau Liberals are taking notice of, with no less than five references in the Fall Economic Statement to “unleashing” that money.
> “I do see the cash mountain, in both Canada and the U.S., as a serious source of potential upside to next year’s growth,” Doug Porter, chief economist at BMO Capital Markets, wrote in an email.
>> As Canadians look to Ottawa to repair an economy ravaged by COVID-19, there’s a growing focus on our savings accounts as a source of potent fiscal stimulus just waiting to be “unleashed.”
>> Bay Street economists estimate businesses and households are sitting on upwards of $170 billion in excess cash. It’s an eye-popping figure the Trudeau Liberals are taking notice of, with no less than five references in the Fall Economic Statement to “unleashing” that money.
>> “I do see the cash mountain, in both Canada and the U.S., as a serious source of potential upside to next year’s growth,” Doug Porter, chief economist at BMO Capital Markets, wrote in an email.
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