Is a Canadian recession becoming a reality? A recent rate cut from the Bank of Canada, and lacklustre economic data point point to a downturn. So why won’t our top bankers use the “R word”?
Is Canada headed toward a recession? Finance headlines have been less than fabulous this week, as growing evidence of a downturn throws the economy into flux.
The Department of Finance has long warned against the hazardous debt levels reached by Canadian households. After all, debt to income ratios rival those of the U.S., right before the economic downturn. However, a new report by TD Economics suggests the situation calls for less doom and gloom than previously thought.
Canadian families are finding it increasingly difficult to save for the future in a post-recession economy. As global economic uncertainty continues, and consequences of the U.S. fiscal cliff are on the horizon, Canadians are changing their spending habits, and developing a new approach to saving.
Get ready – here come the Friday night money fights. When it comes down to getting contentious, Canadians have no shortage of qualms over their cash – and no one is spared the wrath as family members and significant others alike come under fire over financial squabbles.
The Canadian economy could be in for a second recession, according to a Moody’s Analytics report. The culprits: record high levels of Canadian household debt, and little room for stimulus should the cost of borrowing go up.