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Bank CEOs See Canada’s Covid Spending Providing a Soft Landing

  • Extra cash on hand acts as a ‘shock absorber,’ McKay says
  • Executives say support is easing pain of interest-rate hikes
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Is Covid Getting Worse?

Canada’s nearly C$300 billion ($228 billion) in Covid relief helped the nation navigate the pandemic’s acute phase, and now in its second act is poised to provide a soft landing for the economy.

That’s the view from the chief executive officers of some of the country’s top banks who spoke at the Bank of Nova Scotia financials summit on Wednesday.