Tiff Macklem, Governor of the Bank of Canada, has said that it’s too early to consider slowing down the pace of bond buying. Earlier in the day, the BoC has dropped its quantitative easing program at C $ 4 billion a month.
Macklem has added that the Coronavirus resurgence and containment measures could exacerbate pressure on the economy. On the other hand, Macklem has expressed optimism about economic growth in the medium term. The Canadian economy is expected to expand in the second quarter and experience sustained strength.
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