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2nd coronavirus wave could have ‘serious impact’ on economy: Bank of Canada
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COVID-19 and another round of sweeping lockdowns could have a “very serious” impact on the Canadian economy and must be avoided, Bank of Canada Deputy Governor Lawrence Schembri said on Thursday.Schembri, taking questions from a business audience, said employment and spending had dropped sharply since mid-March when “a fairly broad-based lockdown” was imposed.
Canadian officials shuttered most non-essential businesses and urged people to stay home to slow the spread of the coronavirus.
In recent weeks, most regions have gradually started to reopen.“If a second wave was relatively severe as the first wave was … I think that could … have another very serious impact on the Canadian economy,” Schembri said. “We need to avoid that happening.
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COVID-19
United States
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Cases: 46 252 513
Deaths: 750 423
Recovered: 0
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India
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Cases: 34 321 025
Deaths: 459 652
Recovered: 0
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Brazil
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Cases: 21 835 785
Deaths: 608 235
Recovered: 0
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United Kingdom
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Cases: 9 215 683
Deaths: 141 607
Recovered: 0
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Russia
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Cases: 8 494 589
Deaths: 237 619
Recovered: 0
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