March 20, 2020 / 9:05 PM / 2 months ago

Bank of Canada takes additional measures to help support markets

OTTAWA (Reuters) - The Bank of Canada on Friday said it would take additional measures to help ensure financial markets continue operating smoothly “given the rapidly evolving uncertainty” around the effects of the coronavirus outbreak.

In a statement, the central bank said it was increasing the frequency of term repo operations to at least twice a week starting March 24 and would activate its contingent term repo facility by April 3 “to counter any severe market-wide liquidity stresses”.

Reporting by David Ljunggren

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