The Canadian Central Bank will announce the main interest rates today and details of its effect on COVID-19 on the national economy.
The bank has been slashing interest rate setting trends since early March, including making two unscheduled cuts as an emergency measure against the collapse of the epidemic economy.
Read more: Live update: Coronavirus in Canada
There is a general expectation among economists that the Bank of Canada will maintain its “overnight interest rate” target of 0.25%.
Meanwhile, the central bank will also announce its views on the economic impact of COVID-19 and local economic expectations, one day after the International Monetary Fund estimates that the Canadian economy will contract by 6.2 percent this year.
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Statistics Canada will also release GDP figures for March and the first quarter of this year.
The story continues under the announcement
The Office for National Statistics said that “real-time forecast” numbers would provide the first estimate of COVID-19’s economic impact.
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© 2020 Canadian Press
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