BRIEF-Bank of Canada to purchase Canadian govt bonds until recovery is well under way - Poloz

Canadian Finance Minister Bill Morneau and Bank of Canada Governor Stephen Poloz held a joint news conference. * CANADA GOVERNMENT PROVIDING C$65 BILLION IN DIRECT SUPPORT TO SMALL- AND MEDIUM-SIZED COMPANIES, AND C$30 BILLION IN DEFERRED TAXES -FINANCE MINISTER BILL MORNEAU

* BANK OF CANADA GOVERNOR STEPHEN POLOZ SAYS MONETARY POLICY WILL NOT HAVE ITS USUAL IMPACT IN AN ECONOMY THAT HAS BEEN SHUT DOWN * BANK OF CANADA'S POLOZ SAYS TO CONTINUE TO PURCHASE GOVERNMENT OF CANADA BONDS UNTIL RECOVERY IS WELL UNDER WAY

* CORRECT-BANK OF CANADA TO BALANCE SHEET HAS INCREASED BY ABOUT C$90 BILLION (NOT $90 BILLION) IN PAST TWO WEEKS- POLOZ * CANADA IS TRYING TO MAKE SURE THAT IT GUARANTEES CREDIT TO OIL AND GAS SECTOR, ESPECIALLY SMALL AND MEDIUM SIZED COMPANIES, STILL WORKING ON DETAILS - FINANCE MINISTER MORNEAU

* CANADA IS PUTTING OUT ABOUT 5% OF GDP OR MORE, EXCLUDING CREDIT, TO CUSHION BLOW FROM CORONAVIRUS, MAY NEED TO DO MORE- FINANCE MINISTER MORNEAU * CANADIAN FINANCE MINISTER MORNEAU SAYS THERE IS NO CAP WHEN ASKED ABOUT HOW MUCH GOVERNMENT CAN SPEND TO OFFSET VIRUS IMPACT