Canadian cash volumes rose in pandemic

canadian-10-dollar-banknote

A Bank of Canada study has found that the country’s cash supply rose much more than would otherwise be expected during 2020.

The study uses a combination of survey data and official statistics. The Bank of Canada undertook three consumer surveys in April, July and November 2020. During the last survey, researchers asked respondents to keep a three-day diaries of their spending and withdrawals.

Official data show that “notes in circulation” increased by 16% in 2020, reaching C$100.4 billion (US

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