30 Mar 2020 @ 09:19
The key points from today’s economic news, brought to you by Guardian Stockbrokers.
US consumer sentiment index dropped in March
In the US, the final consumer sentiment index registered a drop to a level of 89.10 in March, compared to a level of 101.00 in the prior month.
BoC slashes its key interest rate, unveils quantitative easing programs
The Bank of Canada (BoC), at its latest monetary policy meeting, trimmed its benchmark overnight interest rate by 50 basis points to 0.25%, in an effort to support the Canadian financial system and the economy during the coronavirus pandemic. Additionally, the central bank has unveiled two new programs, the Commercial Paper Purchase Program (CPPP), which aims to alleviate strains in short-term funding markets, while the second will see the central bank begin acquiring federal government securities in the secondary market with a minimum of $5.0 billion per week.
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