Monday marks the beginning of the first full week that the Canada Emergency Business Account will be available to small businesses and not-for-profit organizations. The federal government's program, which offers applicants up to $40,000 in interest-free loans in an effort to counter the COVID-19-linked economic downturn, is currently available through the Big 5 banks.The Bank of Canada is set to release its latest interest-rate decision and monetary policy report on Wednesday.
Recent numbers from Vancouver and Toronto showed strong sales activity in the first half of the month followed by a sharp drop off in activity as the effects of COVID-19 put a chill into the market.Statistics Canada is set to release its monthly survey of manufacturing for February on Thursday. StatCan's previous survey for January showed that manufacturing sales were down 0.2 per cent to $56.1 billion, the fifth consecutive monthly decline.
Maybe soon the new norm is accepting the Wahun virus at a 1% fatality rate. Because if the lock down and self isolation continues then kiss the current system of things goodbye. Worthless paper money, worthless real estate. Bread, rice, hand sanitizer,tissue paper priceless.