Bank of Canada slashes policy rate, to start purchase of government securities
- Country:
- Canada
The Bank of Canada lowered on Friday its key policy rate by 50 basis points to 0.25% in an effort to support the Canadian financial system and the economy during the coronavirus pandemic.
The central bank also launched a new program, the Commercial Paper Purchase Program (CPPP), to help alleviate strains in short-term funding markets, and it said it would begin acquiring Government of Canada securities in the secondary market. It will begin with purchases of C$5 billion per week, across the yield curve.
(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)
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- Bank of Canada
- Canadian
- Government of Canada
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