"While many Canadians are experiencing rising levels of financial stress, this stress is higher among those who typically live paycheque to paycheque," the Bank of Canada said.
The central bank said financially vulnerable households typically hold less than two weeks worth of expenses in liquid assets, frequently run out of money before the end of the month and are not able to immediately pay for an unexpected expense of $500.
#bank-of-canada #consumer-spending #mortgage-holders #inflation #financial-vulnerability #economic-outlook
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