Bank of Canada COVID-19 Market Outlook: April 15, 2020
The Bank of Canada maintained its interest rate of 0.25% on April 15, 2020 and gave insight into the ongoing market outlook during the COVID-19 pandemic.
Since March 4, 2020, the Canadian interest rate has gone from 1.75% to 0.25% due in large part to the economic impacts of the novel coronavirus.
While the Bank of Canada could not give a complete forecast, they did provide analysis of what recovery could look like — and what will be needed in the short-term.
On April 15, they also announced new market operations to help weather the storm, including:
- A Provincial Bond Purchase Program of up to $50 billion
- A new Corporate Bond Purchase Program
- Further enhancements to its term repo facility to permit funding for up to 24 months
Read the full analysis of the April 15, 2020 Bank of Canada interest rate announcement and market outlook on the GeoWarehouse blog: https://www2.geowarehouse.ca/bank-of-canada-interest-rate-covid-19-pandemic/