Canadian cash volumes rose in pandemic
BoC says increase driven by stockpiles of big notes and interruptions in circulation
A Bank of Canada study has found that the country’s cash supply rose much more than would otherwise be expected during 2020.
The study uses a combination of survey data and official statistics. The Bank of Canada undertook three consumer surveys in April, July and November 2020. During the last survey, researchers asked respondents to keep a three-day diaries of their spending and withdrawals.
Official data show that “notes in circulation” increased by 16% in 2020, reaching C$100.4 billion (US
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