Canadian households face ‘crucial’ months – BoC governor
Macklem warns that financial risks to households are likely to rise as loan deferrals end
Bank of Canada governor Tiff Macklem warned of the longer-term financial risks the Covid-19 crisis could cause in a speech on October 8.
Macklem said the government and lenders had given much-needed support to Canadian households this year by delaying payments. “The six-month deferrals that financial institutions offered are ending, though, so the next few months will be crucial,” he added.
The Bank of Canada has played a major role stimulating the economy by lowering its policy rate to a
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