Last week Canada's new top central banker says the Bank of Canada has no intention to raise interest rates given the current economic circumstances created by the COVID-19 pandemic.
Governor Tiff Macklem says the central bank is focused on delivering low interest rates for the foreseeable future to support an economic recovery.
That should also help lower the debt-servicing costs households and businesses face, he says, particularly if they've taken out loans to bridge to better times.
Rates would only go up once Canada is well into an economic recovery, which Macklem suggests is still a long way off.
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