Bank of Canada Boosts 2-Week Repo Use to Ease Market Strain
The Bank of Canada is increasing the size of its two-week repo operations to alleviate upward pressure on the Canadian Overnight Repo Rate Average (Corra). Deputy Governor Toni Gravelle stated this measure aims to ease strain on the financial system.
Bank of Canada Deputy Governor Toni Gravelle said the central bank is trying to reduce strains in short-term funding markets by regularly increasing the size of its two-week repo operations.
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