Poloz and Wilkins hold virtual press conference
- strong financial system will help Canada emerging good shape
- policy response will lay the foundation for recovery
- BOC programs designed to expand with virus impact
- considerable uncertainty over pandemic, it economic impacts
- truly historic fiscal response helping mitigate shock
- if they were to be a 2nd wave of economic fallout, we would need another scenario
- best case scenario remains within reach
- we are headed for a different kind of normal where there would be a reasonable return to economic activity in quarter 3
- Bank of Canada's Wilkins said that the Bank of Canada is not planning to increase the size of its corporate bond purchases
- glimmers of energy pricing is recovering
- markets are functioning well right now and will continue to do so because we will ensure they do
- there will of course be business failures through this
- governments response to incredible job of offsetting shock
The press conference today is the last for Gov. Poloz.
Best of luck, health and good fortune to the outgoing Governor.
To watch live click here:
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