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Bank of Canada says its coronavirus measures appear to be working, 'robust' recovery possible
The Bank of Canada said on Thursday that the measures it has taken to help stabilize financial markets during the coronavirus pandemic appear to be working and predicted the economic recovery could be robust. The central bank did however express concern over vulnerabilities in the energy sector, which is suffering from waning demand and low prices. The bank cut its key overnight interest rate three times in March to 0.25% and launched its first ever large-scale bond-buying program. The bank reiterated it could adjust the scale of the programs as needed. The coronavirus remains a massive economic and financial ... (full story)