As you know, the Bank made the decision yesterday to maintain our target for the overnight rate at 0.25 percent, and we’ll spend some time discussing that later. But first, I want to talk about some of our actions to address COVID-19 and the immense challenges this pandemic poses to the financial well-being of Canadians.
In general, there are inconsistencies in dealing with different kinds of financial institutions, inadequate powers for ‘business rescue’ practices that would be appropriate for financial institutions, and some implicit assumptions and beliefs that drive activities in the financial sector but that would not always be possible or realistic.