BoC cuts overnight rate to 0.25%, starts government securities purchases

<p>In an unscheduled announced, BoC decided to lower overnight rate by -50bps to 0.25%. Bank rate is then correspondingly at 0.50% and deposit rate at 0.25%. BoC said, “this unscheduled rate decision brings the policy rate to its effective lower bound and is intended to provide support to the Canadian financial system and the economy […]</p>
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