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canadian economy
"We have to go back to the Great Depression to find similar numbers."
Incredibly, negative oil prices are a thing.
But the government went into the COVID-19 crisis with considerably less debt than other wealthy nations.
The bank has stopped making specific forecasts, due to the high level of uncertainty.
Working from home is expected to cause a "dramatic decline" in productivity, Canada's statistical agency says.
Our huge borrowing binge will still be way less, proportionally, than what the U.S. is about to do.
Air Canada and Vancouver airport are among the latest large-scale job reductions announced in Canada.
But this is "not the start of a lengthy Great Depression," a new forecast says.
Borrowers shouldn't count on lower interest rates this year if the economy heats up.
But it turns out you don’t need a recession for Canadians to suffer financially.