Canadians hold record $75B in cash

Kai Li, a professor at UBC’s Sauder School of Business, appeared on CBC The National in a segment about Canadians preferring to hoard cash due to volatile stock markets.

Li said the propensity to hold cash reflects the financial conservatism of many Canadians.

“Canadians are very conservative,” said Li. “That’s why the banking system was very safe and sound during the ’08 financial crisis worldwide.”