Canadian dollar falls after BoC extends asset purchase programme

Economies.com
2020-04-15 15:15PM UTC

The Canadian dollar slumped on Wednesday, after the Bank of Canada's decision on the interest rates and asset purchases.

 

The Bank of Canada announced today to hold the interest rate at 0.25% unchanged, and extended its treasury bonds purchases program.

 

The bank stated that it will extend its purchases of municipal bonds to $50 billion, and its purchases of corporate bonds will be expanded to $10 billion.

 

The decision is expected to kick off in the coming weeks, to provide more liquidity in markets to ease the coronavirus impact on the Canadian economy.

 

As of 15:14 GMT, CAD/USD fell by 1.6% to 0.709, after the pair hit a high of 0.721 and a low of 0.7079.

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