Canadian households and businesses sitting on $170 billion excess cash hoard: CIBC

Frugal Canadian households and businesses have accumulated a minimum of $170 billion in excess cash throughout COVID-19 and are currently sitting on the largest cash hoard in recorded history, according to CIBC. In a report published on Tuesday, CIBC deputy chief economist Benjamin Tal and economist Katherine Judge wrote that the disparity is a result of a spike in disposable income not being met with increased consumer...