To that end, policymakers around the globe have acted aggressively and creatively by initiating a series of unprecedented actions aimed at stabilizing the global financial system. Central banks throughout the world, including the Bank of Canada, have provided unprecedented liquidity to keep the financial system functioning.
Social distancing measures and high uncertainty regarding employment prospects continue to weigh on consumer confidence, which remains below its pre-crisis level despite a recent uptick. In contrast, private investment now appears to be rather resilient and business confidence points towards growth in manufacturing activity.