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Kurt and Daniel weigh in with their perspectives on a strong coordinated policy response during a highly volatile week and what it means for Canadian financial markets.
Fiscal, monetary and regulatory authorities are coming to the rescue with aggressive and coordinated stimulus measures:
The Bank of Canada delivered an unscheduled 50 basis point rate cut to just 0.75% - the second in as many weeks - which had been fully priced in by the rates markets. The BoC also committed to purchasing short-term bankers' acceptances in the secondary market to promote functioning financial markets.