Central bank pulls forward its expectations for when the economy will be strong enough to handle a rise in rates.
Bank of Canada
The central bank says its key interest rate target will stay at 0.25% until the economy recovers and inflation is back at its 2% comfort zone, which it doesn't see happening until 2023.
Central bank holds overnight rate target at 0.25%, which is where it will stay until the economy has recovered.
Central bank holds key interest rate at 0.25%
Outlook is less rosy than those the Trudeau Liberals relied on in their economic update released a week ago.
The Bank of Canada is cutting its key interest target by half a percentage point to 0.25 per cent in an unscheduled rate announcement
The Bank of Canada is cutting its overnight rate target by half a percentage point to 0.75 per cent in response to COVID-19
Earlier in the day, the U.S. Federal Reserve pumped vastly more money, US$1.5T, into American financial markets, which did little to stop the bleeding on North American stock markets
Canada's top central banker says concerns about the immediate impact of the novel coronavirus spurred the Bank of Canada to cut its trend-setting interest rate this week
The Bank of Canada is cutting its key interest rate target by half of a percentage point, dropping it to 1.25 per cent in response to the economic shock from the novel coronavirus outbreak.