Stephen Poloz Canada covid-19 outbreak economy Coronavirus Stephen Poloz Canada

Coronavirus outbreak: Bank of Canada keeps rates steady as economy sees “significant contraction”

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The Bank of Canada is keeping its key interest rate steady at 0.25 per cent, as widely expected by economists. Governor Stephen Poloz said the economy is experiencing “significant and rapid contraction” and the downturn tied to COVID-19 will be the worst on record.

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