Canadians are hoarding more cash than ever

Canadians are shying away from investing cash according to a report from CIBC World Markets. A record $75 billion in cash is being held currently and the rate at which savings are growing is the highest for 4 years. Those with spare funds are choosing not to put their money into equities but are also holding back from property investments, preferring instead to retain currency. The report finds that all Canadians, young and old alike, are making cash a bigger part of their portfolios but a third of under 35s are holding twice as much cash as those over the age of 65.

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