Bank of Canada launches large-scale asset purchases

Measures target market function more than monetary easing, says governor Stephen Poloz

Stephen Poloz
Bank of Canada governor Stephen Poloz
Photo: Matthew Liteplo Photography

The Bank of Canada has become the latest central bank to intervene in funding markets, purchasing both government bonds and commercial paper to supply additional liquidity.

On March 27, the central bank launched a commercial paper purchase programme to “alleviate strains in short-term funding markets”.

It said it would also buy government bonds across the yield curve to a minimum of C$5 billion (US$3.5 billion) a week, varying the purchases “as conditions warrant”.

In a press conference

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