Bank of Canada unveils new purchasing programmes
Monetary policy report analysis shows economy could shrink by roughly 30% in Q2
The Bank of Canada unveiled a suite of new measures to help ease stress in securities markets at today’s (April 15) monetary policy meeting.
The central bank left its policy rate unchanged, but announced it is increasing the scope and scale of its asset purchasing programmes. It also released a scenario analysis that suggests the economy is at risk of shrinking by roughly 30% in the second quarter.
The central bank is establishing two new facilities designed to acquire provincial and corporate
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