Unparalleled BoC bond purchasing welcomed to move country from ‘defence to offence,’ says Senator Loffreda

The Bank of Canada didn’t resort to bond buying during the last crisis, but the economic plunge is much deeper this time around, say economists.

Outgoing Bank of Canada Governor Stephen Poloz, pictured at a press conference in Ottawa on May 1, has overseen the central bank's response to the coronavirus pandemic, which economists say puts Canada in a different environment than during the 2008-09 recession. The Hill Times photograph by Andrew Meade

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BY MIKE LAPOINTE

May 27, 2020

Given continued global financial market turmoil borne from the ongoing COVID-19 pandemic, the Bank of Canada’s recent and unparalleled foray into bond purchasing comes as a welcome economic stimulus policy to “get confidence back into the market” and to “get the consumer working again,” ac...

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