The Bank of Canada announced today for the third time in March to cut interest, within its intensive attempts to ease the coronavirus economic impact.
The central bank decided today to cut interest by 50 basis points to 0.25% from 0.75%, to support the Canadian economy.
The BoC stated that these measures are aimed at easing the coronavirus outbreak impact on the economy.
It also launched two new asset purchase programs, one of which will be designated for buying at least CAD$5 billion in government bonds per week.