Economics
TD Sees Weaker Growth in Provinces That Shun Vaccine Passports
- Output forecasts stronger in higher vaccinated jurisdictions
- Mandating jabs prevents lockdown damage, economist says
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Economists at Toronto-Dominion Bank, Canada’s second-largest lender, are warning provinces that refuse to implement vaccine passports will be hit hardest by a fourth-wave of Covid-19 cases.
Beata Caranci, the bank’s chief economist, said her group could cut its fourth-quarter forecasts for Ontario and other provinces that don’t have plans to limit high-risk activities for people who are not vaccinated. That’s because those regions are more likely to resort to lockdowns or other restrictions on business activity.