•   
  •   
  •   

Money Ottawa to soon detail fiscal response to COVID-19 economic shock

12:30  17 march  2020
12:30  17 march  2020 Source:   msn.com

Bank of Canada cuts rate by half point, stands ready to cut more in face of coronavirus threat

  Bank of Canada cuts rate by half point, stands ready to cut more in face of coronavirus threat The Bank of Canada doesn’t always follow the U.S. Federal Reserve, but it did today. Canada’s central bank on March 4 slashed its policy rate by half a point, matching the Fed’s surprise announcement 24 hours earlier. Canada’s central bank on March 4 slashed its policy rate by half a point, matching the Fed’s surprise announcement 24 hours earlier.

PM hints at new economic measures to support Canadians affected by COVID - 19 . cbc.ca. Trudeau met with top ministers this afternoon, including Finance Minister Bill Morneau and Health Minister Patty Hajdu, as part of the government's response to a virus that has sickened dozens across Canada and

The COVID - 19 economic shock includes demand, supply and confidence dimensions. These economic phases include the China shock ; sectoral disruptions; high disruption This includes a -billion support package with monies for provinces and territories, a public-health response , research

Bill Morneau wearing a suit and tie © Provided by The Canadian Press

OTTAWA — Finance Minister Bill Morneau is expected to soon announce the federal government's plan to help workers affected by COVID-19.

Prime Minister Justin Trudeau said Monday that the details of the spending package would arrive imminently, with measures rolling out in the coming days to buffer the economy from the sudden shock of the novel coronavirus pandemic.

He also suggested that more measures may have to be taken in the long term to help restore consumer and business confidence.

A number of moves have been debated, such as temporarily boosting the value of the Canada Child Benefit and providing grants to workers who don't qualify for employment insurance, such as gig economy workers.

Morneau insists economy can handle coronavirus as economist urges fiscal caution

  Morneau insists economy can handle coronavirus as economist urges fiscal caution Ottawa is facing low economic growth that gives it little wiggle room for adapting to economic shocks.But one economist warns his calculations may be taking too "narrow" a view of the situation.

Share this story. Ottawa to unveil support for COVID - 19 quarantined Canadians next week, preparing fiscal “It is clear that COVID - 19 is going to have an impact on the Canadian economy … but the impact We have the tools to respond really quickly,” he added. He provided little detail on what the

The global economy is showing it's not immune to COVID - 19 . With travel plans and conferences canceled, airlines grounded and even the Tokyo Olympic Games in doubt, economists are busily slashing their forecasts for company earnings and economic growth.

The federal government has also said it is closing its borders, effective Wednesday, to most foreign nationals except Americans and is barring anyone, including Canadian citizens, with symptoms of the novel coronavirus from boarding flights back home.

Calgary-based airline WestJet announced late Monday it was suspending all commercial international and transborder flights for a 30-day period, refocusing its efforts on repatriation flights for Canadians stuck abroad.

This report by The Canadian Press was first published March 17, 2020.

The Canadian Press

Alberta's economic decline will be the 'most severe' the province has ever seen: RBC .
Alberta is poised to suffer the largest economic decline in Canada this year — and the most severe that the province has ever seen in a single year, according to a new forecast from RBC Economics. It says the collapse in oil prices has been a "massive blow" for oil-producing regions of the country, including Alberta. Oil companies have slashed their spending plans and trimmed production, the report says. "The slump will spill over to other sectors of the economy, further weakening consumer spending and business investment," according to the report released this week."We now project Alberta's economic contraction — at -5.

—   Share news in the SOC. Networks

Topical videos:

usr: 0
This is interesting!