Economic shock from COVID-19 to lead to higher indebtedness, Poloz says

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Canada's response to the COVID-19 pandemic will 'clearly lead to higher indebtedness' once the economic shock has passed, Bank of Canada governor Stephen Poloz warned Monday.

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A woman walks past the Bank of Canada Wednesday September 6, 2017 in Ottawa. OTTAWA -- Canada's response to the COVID-19 pandemic will "clearly lead to higher indebtedness" once the economic shock has passed, Bank of Canada governor Stephen Poloz warned Monday.

And it can also increase the risk that a future negative shock will have a magnified effect on the economy, Poloz says.He says the bank is developing new tools to evaluate this trade-off between faster growth today and slower growth down the road. Over the course of the month, the central bank cut its policy interest rate to 0.25 per cent -- the lowest Poloz says it can go -- and began an unprecedented purchasing spree to help ease constraints in financial markets and allow governments to fund massive support programs.

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The clueless, inept Liberals are leading Canada over the debt bankruptcy cliff regardless of covid 19.

What an insightful comment.

You had to ask someone this?

We have flattened the curve to deal with any stress with the hospitals. Now we must get the country back to work. The experiment must end.

Not meaning to pick on CTV or the author, but how does this obvious fact make a headline, let alone a full story? What does ANYONE with some common sense think is going to happen? Come on and all journalists/reporters. If you want more respect from the public, DO BETTER!

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