May 14 2020 12:14pm

Coronavirus outbreak: Bank of Canada warns of business and household debt as a result of COVID-19

The Bank of Canada says there are signs in the country’s financial markets that suggest concern about the ability of companies to weather the COVID-19 economic crisis. The Bank of Canada’s review of the country’s financial system says market prices point to a concern that defaults are likely to rise. The report also raises concerns that household debt levels are likely to rise and become acute for households whose incomes don’t fully recover from the pandemic.

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