Given where we are now, we don’t see the stagnant part of stagflation—quite the opposite. The Canadian economy, across many measures, is running pretty hot. In the second half of 2021, quarter-over-quarter growth in gross domestic product averaged 6% on an annualized basis. And we expect growth around 5% in the first half of 2022.
At the same time, 12 banks joined hands to launch the Kiddie Account Program. While these banks were no stranger to children’s accounts, they all agreed on the need to make saving affordable, accessible and convenient to attract more kiddie savers.