The Bank of Canada sees the Canadian economy facing a prolonged and uneven recuperation with households remaining cautious with their spending until there is a vaccine for COVID-19, Deputy Governor Lawrence Schembri said on Thursday.
Schembri, speaking to a business audience, said the central bank expects the economic recovery to be in two phases, and noted fiscal policy will be needed to target the specific needs of vulnerable households, sectors and regions of Canada. He made no mention of future policy moves.
