Bank of Canada's Senior Deputy Gov. Carolyn Wilkins
Bank of Canada's Senior Deputy Gov. Caroline Wilkins is on the wires saying:
- The bank can it will do its part to breach this coronavirus. In support lasting recovery
- Canada we left with more government and private debt than before coronavirus outbreak started
- balance sheet has grown from around hundred and C$120 billion at the beginning of March to around C$385 billion as of last week
- close to 90% of the increase in the Central banks balance sheets is set to mature within a year
- best case scenario still within reach, not assured
- lower rates may not spur much demand right now, but they are laying the foundation for when the recovery gets underway, once containment measures are lifted
- there are opportunities to achieve a strong and sustainable growth over the longer run that won't disappear because of Covid – 19
- the Bank of Canada can recalibrate as a purchase progress to monetary policy objectives
