Poverty was in retreat pre-Covid, and relief efforts likely prevented its revival
Statistics Canada reported that government supports offset a sharp drop in household income
- By: James Langton
- March 23, 2021 March 23, 2021
- 13:32
Statistics Canada reported that government supports offset a sharp drop in household income
There are risks and benefits to digital currencies, the Fed chair said
Continued support from the Fed will be required
But a rebound is expected in February due to eased restrictions
Vaccines, fiscal stimulus and a stronger start to 2021 underpin a rosier outlook
The global lender praised the country's response efforts in a new report
The government announced last month it would add 12 weeks of eligibility to the Canada Recovery Benefit
U.S. fiscal stimulus, vaccine rollout, stronger momentum brightens outlook
The Federal Reserve also upgraded its outlook for growth, inflation
Gas prices drove the increase
Credit and debit card spending fell sharply after the storm in Texas
A robust recovery later this year could accelerate inflation and send long-term rates surging
The national average home price in February was a record $678,091
Despite slow economic recovery, credit conditions are stable, the agency says
The economy lost almost 213,000 jobs in January, compared with 259,000 added last month
Household debt as a proportion of income rose in Q4 to 175% from 170.8% in the previous quarter
The budget will feature funding measures to "defeat" Covid-19 and ensure all residents are vaccinated
Canadians accumulated an average of $5,800 in extra savings in the last year
The stimulus is meant to help businesses still struggling with coronavirus restrictions
Inflation likely won't hit its 2% target until 2023, the central bank said
The gain was the biggest in six months
David McKay predicts central banks will hike rates sometime next year
The treasury secretary pointed to low unemployment before the pandemic, which didn't lead to inflation
Central banks are expected to raise economic outlooks but stay patient on rates
The country has not had a trade surplus since May 2019