“The 10-Minute Take” is a new podcast series dedicated to providing insights from RBC economists and market experts on events unfolding around the globe.
Featuring Craig Wright, RBC Chief Economist
Canada struck back with a two-fisted punch to send monetary and fiscal confidence to the economy. The Bank of Canada not only cut rates; it embraced quantitative easing, to buy bonds and other financial assets from governments that will be borrowing a lot more money. For its part, the federal government came out with Phase 2 of its stimulus package, to help small- and medium-sized businesses stay open and keep their workers on payroll. Will it be enough to prevent a major recession? RBC’s Chief Economist Craig Wright explains.
‡ For relevant conflicts disclosure, please visit our Disclosure Lookup Tool.
This article is intended as general information only and is not to be relied upon as constituting legal, financial or other professional advice. A professional advisor should be consulted regarding your specific situation. Information presented is believed to be factual and up-to-date but we do not guarantee its accuracy and it should not be regarded as a complete analysis of the subjects discussed. All expressions of opinion reflect the judgment of the authors as of the date of publication and are subject to change. No endorsement of any third parties or their advice, opinions, information, products or services is expressly given or implied by Royal Bank of Canada or any of its affiliates.