Low-income households have depleted most of their savings as high inflation and interest rates take a larger bite out of their budgets
OTTAWA — High household savings in Canada and the U.S. may help both countries avoid a severe downturn as high interest rates ripple through the economy.
Many workers also benefited from income support programs rolled out by governments, which cushioned incomes. "That's not surprising, given, number 1, they built up relatively lower savings to begin with than upper income households," Guatieri said. "They've been more challenged with the rising cost of necessities,
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Excess household savings may help economy avoid harsher downturn, BMO report saysHigh household savings in Canada and the U.S. may help both countries avoid a severe downturn, BMO report says
Read more »
Low supply, falling sales in nearby communities push up home pricesSales are falling off significantly in the communities surrounding Calgary, but overall low supply has kept prices stable in most outlying areas, recent market…
Read more »
Low inventory, steady demand are setting up for a busy spring seasonCalgary\u0027s real estate market witnesses \u0027really low\u0027 inventory and rising prices.
Read more »
New-condo sales fall to 20-year low in GTA: UrbanationUrbanation\u0027s Shaun Hildebrand talks about the slowdown in condo sales and building in the Greater Toronto Area. Watch here.
Read more »
Toronto FC's new home kit comes straight from the heart of longtime supporterWhile no stranger to Toronto FC home openers, this season's kickoff at BMO Field will be extra special for Mark Hinkley.
Read more »