COVID Response Has Kept Many Indebted Canadians from Reaching Debt Cliff

Sep 11, 2020 | Brian Moore


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The COVID-19 pandemic threatened to provide the labour-market shock that would finally make Canadian policymakers’ longstanding concerns about high household debt a reality.

RBC Thought Leadership

The COVID-19 pandemic threatened to provide the labour-market shock that would finally make Canadian policymakers’ longstanding concerns about high household debt a reality. It didn’t happen: government income-support programs, and banks’ decision to offer deferrals to hard-hit mortgage and credit-card holders, provided early and extensive relief.

 

Click here for the full article; RBC Thought Leadership.