Bank of Canada Governor Stephen Poloz justified his decision to slash interest rates on Wednesday as a confidence-boosting measure that can help “bridge” the fallout from the coronavirus.
Wednesday’s cut marked a reversal for Poloz, who had been one of the few central bankers over the past year to resist lowering borrowing costs — in part because of concern cuts would fuel the nation’s high household debt levels. However, downside risks to the economy are now “more than sufficient” to outweigh continuing concern about financial vulnerabilities from cheaper money, the governor said.
Lower interest rates will actually help to stabilize the housing market, rather than contribute to forth
Would be nice if they had the same urgency to protect the public
You know what would shore up confidence? Screening for corona virus.
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