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In order to support the continuous functioning of financial markets, the Bank of Canada is announcing the Commercial Paper Purchase Program (CPPP).

As announced on March 27 2020, the Bank of Canada is launching a program to purchase Government of Canada securities in the secondary market.

This unscheduled rate decision brings the policy rate to its effective lower bound, to provide support to the Canadian financial system and to the economy during the COVID-19 pandemic.

The Bank of Canada today lowered its target for the overnight rate by 50 basis points to ¼ percent. The Bank Rate is correspondingly ½ percent and the deposit rate is ¼ percent. This unscheduled rate decision brings the policy rate to its effective lower bound and is intended to provide support to the Canadian financial system and the economy during the COVID-19 pandemic.

As part of the Bank of Canada’s Provincial Money Market Purchase (PMMP) program, the Bank was allocated $121.1 million of provincial treasury bills and/or promissory notes.

Today the Bank of Canada purchased $ 260,000,000 of Canada Mortgage Bonds in the secondary market.

As part of the Bank of Canada’s Provincial Money Market Purchase (PMMP) program, the Bank was allocated $279.21 million of provincial treasury bills and/or promissory notes.

Consistent with the announcement that the Bank of Canada (the Bank), acting as fiscal agent, will extend its buybacks across all benchmark maturity sectors, the Bank is announcing today the following operations for the next two weeks.

The Bank of Canada today announced a new program to support the liquidity and efficiency of provincial government funding markets.