Although many people lost their jobs over recent months, government support has meant that total household income has not fallen in aggregate. This has been a surprising outcome of the current episode. On top of the income transfers, many households have added to their available cash flow by withdrawing from their superannuation (Graph 6; Graph 3.12 in the SMP).
We took the opportunity to meet with the newly established Toronto chapter of BIBA, and our High Commission in Ottawa arranged a reception for potential investors in Barbados. As we all know, the largest of our financial institutions operate at a regional level, and therefore as supervisors we need to be concerned about risks that arise from regional linkages.