High household savings in Canada and the U.S. may help both countries avoid a severe downturn, BMO report says
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,
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