Canada: Chronology of response to coronavirus – NBF

Economists at the National  Bank of Canada have compiled a comprehensive timeline of policy responses from the Government of Canada, Bank of Canada and other Canadian regulatory institutions. 

Key quotes

“On Wednesday, March 4, 2020 o At its regularly scheduled monetary policy meeting, the Bank of Canada lowered its target for the overnight rate by 50 basis points to 1.25%.”

“On Wednesday, March 11, 2020 o Prime Minister Justin Trudeau announced a $1 bln fiscal package to help with the fight against COVID-19.”

“On Friday, March 13, 2020 o For the second time in nine days, the Bank of Canada lowered its target for the overnight rate by another 50 basis points to 0.75%.”

“On Monday, March 16, 2020 o The Bank announced that it will broaden eligible collateral for its term repo facility to include the full range of collateral eligible under the Standing Liquidity Facility.”