Bank of Canada sees interest rates at record lows until 2023
The Bank of Canada on Wednesday said it expects interest rates to remain at current record lows until 2023, and that a second wave of coronavirus infections would have a pronounced impact on near-term economic growth.
The central bank held its key overnight rate at 0.25 per cent but tweaked its asset purchase program to shift towards longer-term bonds, which it says have a more direct influence on the borrowing rates most important for households and businesses.
Original Article Source Credits: Global news , https://globalnews.ca/
Article Written By: Julie Gordon and David Ljunggren
Original Article Posted on: October 28, 2020
Link to Original Article: https://globalnews.ca/news/7426675/bank-of-canada-economic-outlook-coronavirus/