Bank of Canada Interest Rate Announcement - December 9, 2020
The Bank of Canada maintained its overnight rate at 0.25 percent this morning. The Bank is also continuing its quantitative easing (QE) program, purchasing at least $4 billion of Government of Canada bonds per week and re-affirmed its commitment to holding the policy rate at 0.25 percent until slack in the economy is absorbed.
In the statement accompanying the decision, the Bank noted that the recovery underway will be choppy due to rising cases of COVID-19 and will continue to require extraordinary monetary support from the bank
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