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The Bank of Canada cut its cash rate by 50 basis points to 0.25% and launched a quantitative easing program to buy C$5bn of government bonds each week. It also created a Commercial Paper Purchase Program.
The Canadian dollar weakened after the decision, as economists noted there is room for more stimulus.
Lower Canadian interest rates and QE tend to weaken the loonie, which raises the cost of U.S.-priced imports for Canadian feed buyers. The additional easing signals that policy support will continue to weigh on the currency.
poundsterlinglive.comJames SkinnerMar 27, 2020Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
