The way that amount of $350 billion is calculated is that before the pandemic, Canadians were saving roughly 2.5% of their income. The moment we hit the pandemic, the savings rate went well above that.
Managing Director, Deputy Chief Economist and Head of U.S. Economics, BMO Capital Markets
The way that amount of $350 billion is calculated is that before the pandemic, Canadians were saving roughly 2.5% of their income. The moment we hit the pandemic, the savings rate went well above that.
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