ZCAN - Bank of Canada trims bond purchase targets in QE program

The Bank of Canada adjusts its target for weekly net purchases of Canadian government bonds to C$3B from C$4B, in line with its previous statements that it will end its quantitative easing programs.The adjustment reflects the nation's progress made in the economic recovery, as its outlook for the Canadian and global economies have strengthened since its January report.Its key overnight rate stays at the effective lower bound of 0.25%, with the Bank rate at 0.5% and deposit rate at 0.25%.The Canadian dollar gains 0.3% against the U.S. dollar; iShares MSCI Canada ETF ([[EWC]] +0.8%) moves up as well.Developing...Other Canadian ETFs to keep an eye on: [[FXC]], [[BBCA]], [[HEWC]], [[ZCAN]], [[FLCA]]

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Bank of Canada trims bond purchase targets in QE program