June 16, 2020 / 9:06 PM / 20 days ago

BRIEF-Bank Of Canada's Macklem says for foreseeable future focus is on supporting recovery

June 16 (Reuters) -

* BANK OF CANADA GOVERNOR TIFF MACKLEM SAYS THAT FOR NOW AND FOR THE FORESEEABLE FUTURE THE BANK IS FOCUSED ON PROVIDING FINANCIAL STIMULUS AND DELIVERING LOW INTEREST RATES TO SUPPORT THE RECOVERY

* BANK OF CANADA’S MACKLEM SAYS JOB LOSSES WILL SEVERELY AFFECT CONSUMER CONFIDENCE, PURCHASING POWER

* BANK OF CANADA’S MACKLEM SAYS ECONOMY IS IN A ‘DEEP HOLE’ AND IT WILL TAKE TIME TO GET OUT OF IT

* BANK OF CANADA’S MACKLEM SAYS THE DURATION OF CURRENT CRISIS IS BIG RISK, ‘THE LONGER IT GOES THE MORE PAINFUL IT BECOMES’

* BANK OF CANADA’S MACKLEM SAYS GLOBAL DEMAND FOR OIL WILL BE LOWER THAN NORMAL FOR A WHILE

* BANK OF CANADA’S MACKLEM SAYS HE IS NOT CONCERNED ABOUT THE EXPANSION OF THE BANK’S BALANCE SHEET

* BANK OF CANADA GOVERNOR MACKLEM’S TESTIMONY IN PARLIAMENTARY COMMITTEE ENDS (Reporting by Steve Scherer)

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