Mortgage arrears rate could spike to double what it was in 2009, Bank of Canada says

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Emergency measures to deal with the economic impact of the COVID-19 pandemic are showing encouraging signs of working, but Canada's economy is still facing an uncertain future, the Bank of Canada says.Like other policymakers, Canada's central bank has spent the last two months making a flurry of policy decisions to ease the flow of credit, including slashing its target interest rate and embarking on an unprecedented bond-buying program.

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Original Article Source Credits: cbc, https://www.cbc.ca/

Article Written By Pete Evans ·

Original Article Posted on : May 14, 2020

Link to Original Article: https://www.cbc.ca/news/business/bank-of-canada-thursday-1.5569391

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