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Bank of Canada sounds alarm on business, household debt from COVID-19

作者:admin 2020-05-19

OTTAWA — 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 central bank has spent the last two months making a flurry of policy decisions that has seen it slash its target interest rate and embark on an unprecedented bond-buying program to ease the flow of credit.

The report suggests these measures have helped ease liquidity strains and provide easy access to short-term credit for companies and households.

But it is warning this morning that a cash-flow problem for businesses seeing sharp revenue declines during the crisis could soon develop into a solvency issue.

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