Canada has $300-billion cash buffer to soften blow of coming recession, says RBC's CEO

a quarter percentage point to 4.5 per cent on Jan. 25. Since March of 2022 the central bank has hiked eight times, adding 4.25 percentage points, to bring its benchmark rate to a 15-year high., where activity is down almost 40 per cent and prices have fallen roughly 15 per cent, McKay said.

However, McKay said unprecedented amounts of liquidity still held by consumers and corporations should prove a big buffer to any downturn. McKay said the liquidity has swelled to about $300 billion from about $40 billion that consumers and businesses had on hand before the pandemic. McKay estimates the “unprecedented” amount of liquidity is almost 20 per cent of gross domestic product.Article content

You mean taxpayers do.

'However, McKay said unprecedented amounts of liquidity still held by consumers and corporations should prove a big buffer to any downturn.' - Really? that is YOUR cash buffer.

1.2 trillion in debt on the Federal level we are bankrupt.

There is no buffer for Canada's poorest.

Why do I feel like he's lying?

Trudoo goona blow all on refugees and ukraine.

Translation, big banks and gov don’t give a fuck about your plight during recession cuz they have their own contingency 🤷‍♂️

But I thought nothing was broken? Weird...

Good God! Send 10 billion to help Ukraine! Genocide is ongoing! Russia is now building Labour Camps again! Just like Hitler, just like Stalin. Is there no moral compass in Ottawa?

Good that RBC thinks the public purse their cash buffer.

Trudeau can spend that easily on nothing…

We shouldn’t be in the financial mess this government has put us in and a sad thing when a commercial bank has to assure us we have a buffer we shouldn’t be in this mess where we can’t afford to feed and pay for essentials and the liberals toss us a bone like we’re animals.

Good Grief. Listening to a banker who profited from shoveling all that cash during pandemic? Have we learned nothing from 2007 financial crisis? They made a fortune off every government program and loan! Ask them how much fee and interest equivalent on the loans...billions...

pump and ship the oil and Gas... we can buy our way out of this ..

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